Breaking Down: Xenon Pharmaceuticals Inc (NASDAQ:XENE) Stock Drop Below Support -- Technicals Hit Extreme Weakness

Xenon Pharmaceuticals Inc technical rating as of
(XENE Price of Stock at Publication: $2.32)

Breaking Down: Xenon Pharmaceuticals Inc (NASDAQ:XENE) has hit extreme technical weakness -- watch the stochastics and technical oscillators for any kind of momentum signals if you are looking for a turnaround.

The company has broken down to a one bull momentum rating -- that is extreme weakness and through technical support.
It may be tempting to view the price as over sold, making this a potential entry for a long position, but as of this moment, the stock price is moving sharply lower, it has cut through technical support and the bears are leading the charge until the stock can find a bid.

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XENE is down -25.2% over the last three months and down -42.7% over the last six months. The stock has returned -71.5% over the last year. The current stock price is $2.32.

XENE Stock Returns
The technical rating goes from a rating of one, the weakest upside technical, to a rating of five, the highest upside technical. This is strictly focusing on price and technical -- that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the technical rating meaningful, the moving averages are also compared to each other.

Technicals   |   Support: 2.2   |   Resistance: 2.45   

Death Cross Alert: The 50 day moving average is now below the 200 day moving average.
As we noted above -- the back of the envelope rule here is that when shorter-term moving averages move below the longer-term ones, momentum is weakening. We have that right now.

Swing Death Cross Alert: The short-term 10 day moving average is now below the 50 day moving average.
Recall that when we see the shortest-term moving average (10-day in this case) fall below any other moving average (50-day in this case), it indicates weakening momentum.

Xenon Pharmaceuticals Inc has a one bull (extreme weakness) technical rating because it's trading below the 10 day, 50 day and 200 day simple moving averages while the 10-day moving average is below the 50-day moving average and the 50-day moving average is below the 200-day moving average. The stock is down -1.28% on the day.

We now turn to the actual numbers driving this rating:
Xenon Pharmaceuticals Inc (NASDAQ:XENE) rating statistics:
10-day moving average: $2.33
50-day moving average: $2.89
200-day moving average: $4.12