QIAGEN Bears Firmly in Control

Published on Tuesday, 17 August 2010 11:34 Written by TradersHuddle Staff

New York, August 17th (TradersHuddle.com) - Shares of QIAGEN N.V. (NASDAQ:QGEN) booked a new 52 week low by trading below $17.9, traders are definitely monitoring QIAGEN's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

QIAGEN N.V. (NASDAQ:QGEN) provides sample and assay technologies. Its technologies are used to process biological samples and to analyze DNA and RNA. QIAGEN provides these technologies to customers conducting molecular diagnostics, applied testing, pharmaceutical R&D and academic research.

QIAGEN is currently trading -1% versus its previous trading session close, and it has calculated support and resistance at $17.90 and $19.77 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 1.44% from its previous trading close, which means that QIAGEN stock is underperforming the overall market.