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

By David Diaz

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 $108.35 and $110.77 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 (NASDAQ:ALXN) has potential upside of 45.7% based on a current price of $109.01 and analysts' consensus price target of $158.83. The stock should hit resistance at its 200-day moving average (MA) of $120.03, as well as support at its 50-day MA of $103.22.

Over the past year, Alexion Pharm has traded in a range of $92.56 to $141.86 and closed yesterday at $109.01, 18% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

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