• Return to Headlines

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. Today's price range of $136.04 and $137.83 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.

There is potential upside of 13.6% for shares of Alexion Pharm based on a current price of $136.25 and an average consensus analyst price target of $154.72. Alexion Pharm shares should first meet resistance at the 50-day moving average (MA) of $144.17 and find additional resistance at the 200-day MA of $164.17.

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 $145.41 and a 52-week low of $96.18 and are now trading 42% above that low price at $136.25 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Alexion Pharm on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $106.88. Since that recommendation, shares of Alexion Pharm have risen 29.3%. We continue to monitor ALXN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle alexion pharm

Ticker(s): ALXN