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Possible Bearish Inside Day Candle Pattern Detected for Agios Pharmaceut (NASDAQ:AGIO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Agios Pharmaceut (NASDAQ:AGIO) based on the price action in the company's shares. Yesterday's price range of $56.93 and $58.16 is within the prior day'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 Agios Pharmaceut may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Agios Pharmaceuticals, Inc. discovers and develops therapeutics in the field of cancer metabolism. The Company develops drugs focusing on glycolysis, fatty acid metabolism, and autophagy. Agios Pharmaceuticals operates in the United States.

In the past 52 weeks, Agios Pharmaceut share prices have been bracketed by a low of $41.63 and a high of $99.82 and closed yesterday at $56.83, 37% above that low price. The 200-day and 50-day moving averages have moved 0.4% lower and 0.29% higher over the past week, respectively.

Potential upside of 50.9% exists for Agios Pharmaceut, based on a current level of $56.83 and analysts' average consensus price target of $85.75. The stock should find initial resistance at its 50-day moving average (MA) of $62.49 and further resistance at its 200-day MA of $66.27.

SmarTrend is tracking the current trend status for Agios Pharmaceut and will alert subscribers who have AGIO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle agios pharmaceut

Ticker(s): AGIO