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Possible Bearish Inside Day Candle Pattern Detected for Alnylam Pharmace (NASDAQ:ALNY)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alnylam Pharmace (NASDAQ:ALNY) based on the price action in the company's shares. Yesterday's price range of $104.54 and $107.50 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 Alnylam Pharmace 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, Alnylam Pharmace has traded in a range of $60.27 to $109.71 and closed yesterday at $107.47, 78% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.9%.

There is potential upside of 36.8% for shares of Alnylam Pharmace based on a current price of $107.47 and an average consensus analyst price target of $147.00. Alnylam Pharmace shares have support at the 50-day moving average (MA) of $86.21 and additional support at the 200-day MA of $80.88.

Alnylam Pharmaceuticals, Inc. operates as an early-stage therapeutics company. The Company discovers and develops drug and medicines for the treatment of human disease. Alnylam Pharmaceuticals serves health care sectors in the United States and the United Kingdom.

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

Keywords: bearish am inside day candle alnylam pharmace

Ticker(s): ALNY