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

By Nick Russo

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. Yesterday's price range of $3.29 and $3.37 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 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 closed yesterday at $3.29, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 1.7%.

Bellicum Pharmac has overhead space with shares priced $3.29, or 83.2% below the average consensus analyst price target of $19.62. The stock should run into initial resistance at its 50-day moving average (MA) of $3.29 and subsequent resistance at its 200-day MA of $5.36.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Bellicum Pharmac on July 20th, 2018 by issuing a Downtrend alert when the shares were trading at $7.53. Since that call, shares of Bellicum Pharmac have fallen 54.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle bellicum pharmac

Ticker(s): BLCM