• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Alder Biopharmac (NASDAQ:ALDR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alder Biopharmac (NASDAQ:ALDR) based on the price action in the company's shares. Yesterday's price range of $9.43 and $9.63 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 Alder Biopharmac may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Alder Biopharmac share prices have been bracketed by a low of $8.65 and a high of $19.65 and closed yesterday at $9.50, 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.4%.

Alder Biopharmaceuticals, Inc. provides pharmaceutical products and services. The Company identifies, develops, and manufactures antibody therapeutics to alleviate human suffering in cancer, pain, cardiovascular, and autoimmune and inflammatory disease areas. Alder Biopharmaceuticals operates in the United States.

Alder Biopharmac (NASDAQ:ALDR) has potential upside of 154.7% based on a current price of $9.50 and analysts' consensus price target of $24.20. Alder Biopharmac shares should first meet resistance at the 50-day moving average (MA) of $10.87 and find additional resistance at the 200-day MA of $12.18.

SmarTrend recommended that its subscribers protect gains by selling shares of Alder Biopharmac on July 17th, 2019 by issuing a Downtrend alert when the shares were trading at $10.32. Since that call, shares of Alder Biopharmac have fallen 4.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle alder biopharmac

Ticker(s): ALDR