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Possible Bearish Inside Day Candle Pattern Detected for Agenus Inc (NASDAQ:AGEN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Agenus Inc (NASDAQ:AGEN) based on the price action in the company's shares. Today's price range of $2.93 and $2.99 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Agenus Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Agenus, Inc. develops vaccines. The Company researches vaccines for brain cancer, kidney cancer, herpes, lung cancer, melanoma, malaria, shingles, and Alzheimer's disease.

Agenus Inc has overhead space with shares priced $2.93, or 58.1% below the average consensus analyst price target of $7.00. The stock should hit resistance at its 50-day moving average (MA) of $3.23, as well as support at its 200-day MA of $2.44.

Over the past year, Agenus Inc has traded in a range of $1.54 to $5.89 and is now at $2.93, 90% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Agenus Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Agenus Inc in search of a potential trend change.

Keywords: bearish inside day candle agenus inc

Ticker(s): AGEN