• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Blueprint Medici (NASDAQ:BPMC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Blueprint Medici (NASDAQ:BPMC) based on the price action in the company's shares. Today's price range of $100.55 and $102.91 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 Blueprint Medici may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Blueprint Medicines Corporation develops and distributes biomedical treatments. The Company researches and produces medicines and treatments for cancer targeting the molecular differences. Blueprint Medicines focuses selective drugs for genomically defined cancer patients.

Over the past year, Blueprint Medici has traded in a range of $17.35 to $109.00 and is now at $100.82, 481% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 1.1%.

Blueprint Medici (NASDAQ:BPMC) is currently priced 3.4% above its average consensus analyst price target of $97.38. The stock should find initial support at its 200-day moving average (MA) of $21.58 and further support at its 50-day MA of $17.69.

SmarTrend recommended that subscribers consider buying shares of Blueprint Medici on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.39. Since that recommendation, shares of Blueprint Medici have risen 25.0%. We continue to monitor BPMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle blueprint medici

Ticker(s): BPMC