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Possible Bearish Inside Day Candle Pattern Detected for Asterias Bio (AMEX:AST)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Asterias Bio (AMEX:AST) based on the price action in the company's shares. Yesterday's price range of $1.65 and $1.80 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 Asterias Bio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Asterias Biotherapeutics, Inc. is a biotechnology company focused on the field of regenerative medicine. The Company's technology centers on stem cells capable of becoming all of the cell types in the human body, a property also called pluripotency.

Asterias Bio (AMEX:AST) has potential upside of 376.9% based on a current price of $1.80 and analysts' consensus price target of $8.58. The stock should hit resistance at its 200-day moving average (MA) of $2.05, as well as support at its 50-day MA of $1.59.

Asterias Bio share prices have moved between a 52-week high of $3.75 and a 52-week low of $1.20 and closed yesterday at 50% above that low price at $1.80 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 1.6%.

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

Keywords: bearish am inside day candle amex:ast asterias bio

Ticker(s): AST