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

By Nick Russo

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. Yesterday's price range of $112.22 and $113.95 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 Alexion Pharm may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Alexion Pharm has overhead space with shares priced $113.56, or 28.5% below the average consensus analyst price target of $158.83. Alexion Pharm shares should encounter resistance at the 200-day moving average (MA) of $119.36 and support at the 50-day MA of $104.27.

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.

Alexion Pharm share prices have moved between a 52-week high of $141.86 and a 52-week low of $92.56 and closed yesterday at 23% above that low price at $113.56 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

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

Keywords: bearish am inside day candle alexion pharm

Ticker(s): ALXN