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Possible Bearish Inside Day Candle Pattern Detected for Ariad Pharmaceuticals (NASDAQ:ARIA)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ariad Pharmaceuticals (NASDAQ:ARIA) based on the price action in the company's shares. Today's price range of $12.87 and $13.25 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 Ariad Pharmaceuticals 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, Ariad Pharmaceuticals has traded in a range of $4.37 to $14.34 and is now at $12.98, 197% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has slid 0.5%.

ARIAD Pharmaceuticals, Inc. discovers and develops breakthrough medicines that regulate cell signaling with small molecules. The Company is primarily focused on product candidates for targeted indications. ARIAD is developing products to treat solid tumors, to block the spread of cancer, to treat certain forms of leukemia, and to treat cancer that has spread to bone and primary bone cancers.

Ariad Pharmaceuticals (NASDAQ:ARIA) is currently priced 33.0% above its average consensus analyst price target of $8.70. The stock should discover initial support at its 200-day moving average (MA) of $6.57 and subsequent support at its 50-day MA of $6.55.

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

Keywords: bearish inside day candle ariad pharmaceuticals

Ticker(s): ARIA