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Possible Bearish Inside Day Candle Pattern Detected for Bellicum Pharmac (NASDAQ:BLCM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bellicum Pharmac (NASDAQ:BLCM) based on the price action in the company's shares. Today's price range of $3.77 and $3.81 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 Bellicum Pharmac may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Bellicum Pharmac share prices have been bracketed by a low of $2.74 and a high of $10.26 and are now at $3.77, 38% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.7%.

Bellicum Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company. The Company focuses on discovering and developing novel cellular immunotherapies for various forms of cancer. Bellicum Pharmaceuticals operates in the United States.

Potential upside of 420.6% exists for Bellicum Pharmac, based on a current level of $3.77 and analysts' average consensus price target of $19.62. The stock should find resistance at its 200-day moving average (MA) of $5.27, as well as support at its 50-day MA of $3.32.

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

Keywords: bearish inside day candle bellicum pharmac

Ticker(s): BLCM