• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Dermira (NASDAQ:DERM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dermira (NASDAQ:DERM) based on the price action in the company's shares. Yesterday's price range of $13.18 and $13.50 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 Dermira 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, Dermira share prices have been bracketed by a low of $6.03 and a high of $31.42 and closed yesterday at $13.20, 119% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.7% while the 200-day MA has risen 0.5%.

Dermira, Inc., a biopharmaceutical company, identifies, develops, and commercializes therapies to treat dermatologic diseases.

Dermira has overhead space with shares priced $13.20, or 26.0% below the average consensus analyst price target of $17.83. The stock should discover initial support at its 200-day moving average (MA) of $9.83 and subsequent support at its 50-day MA of $8.71.

SmarTrend recommended that subscribers consider buying shares of Dermira on March 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.11. Since that recommendation, shares of Dermira have risen 3.4%. We continue to monitor DERM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dermira

Ticker(s): DERM