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Possible Bearish Inside Day Candle Pattern Detected for Alexion Pharm (NASDAQ:ALXN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alexion Pharm (NASDAQ:ALXN) based on the price action in the company's shares. Today's price range of $120.19 and $122.71 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 Alexion Pharm may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Alexion Pharm has traded in a range of $92.56 to $141.86 and is now at $120.49, 30% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Alexion Pharmaceuticals, Inc., a biopharmaceutical company, researches and develops proprietary immunoregulatory compounds for the treatment of autoimmune and cardiovascular diseases. The Company develops C5 complement inhibitors and apogens which are two classes of potential therapeutic compounds designed to selectively target specific disease-causing segments of the immune system.

Potential upside of 31.8% exists for Alexion Pharm, based on a current level of $120.49 and analysts' average consensus price target of $158.83. The stock should hit resistance at its 200-day moving average (MA) of $122.67, as well as support at its 50-day MA of $119.64.

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

Keywords: bearish inside day candle alexion pharm

Ticker(s): ALXN