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Possible Bearish Inside Day Candle Pattern Detected for Arrowhead Pharma (NASDAQ:ARWR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Arrowhead Pharma (NASDAQ:ARWR) based on the price action in the company's shares. Today's price range of $18.78 and $18.78 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 Arrowhead Pharma may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Arrowhead Pharma share prices have moved between a 52-week high of $22.39 and a 52-week low of $6.31 and are now trading 198% above that low price at $18.78 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.2%.

Arrowhead Pharmaceuticals, Inc. operates as a biotechnology company. The Company develops medicines that treat intractable diseases by silencing the genes. Arrowhead Pharmaceuticals offers its services in the United States.

Arrowhead Pharma (NASDAQ:ARWR) is currently priced 48.9% above its average consensus analyst price target of $9.60. Arrowhead Pharma shares have support at the 50-day moving average (MA) of $18.68 and additional support at the 200-day MA of $15.80.

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

Keywords: bearish inside day candle arrowhead pharma

Ticker(s): ARWR