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

By James Quinn

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 $85.26 and $86.42 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.

Alnylam Pharmace share prices have moved between a 52-week high of $124.22 and a 52-week low of $60.27 and closed yesterday at 42% above that low price at $85.37 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Alnylam Pharmace (NASDAQ:ALNY) has potential upside of 72.2% based on a current price of $85.37 and analysts' consensus price target of $147.00. The stock should run into initial resistance at its 50-day moving average (MA) of $86.53 and subsequent resistance at its 200-day MA of $87.07.

Alnylam Pharmaceuticals, Inc., a biopharmaceutical company, focuses on discovering, developing, and commercializing RNA interference (RNAi) therapeutics.

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

Keywords: bearish am inside day candle alnylam pharmace

Ticker(s): ALNY