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Possible Bearish Inside Day Candle Pattern Detected for Five Prime Thera (NASDAQ:FPRX)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Five Prime Thera (NASDAQ:FPRX) based on the price action in the company's shares. Yesterday's price range of $12.77 and $12.77 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 Five Prime Thera may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Five Prime Thera share prices have moved between a 52-week high of $19.95 and a 52-week low of $7.84 and closed yesterday at 65% above that low price at $12.93 per share. The 200-day and 50-day moving averages have moved 0.57% lower and 2.10% higher over the past week, respectively.

Five Prime Therapeutics, Inc. provides clinical stage biotechnology services. The Company offers innovative proteins, antibody therapeutics, and drugs for oncology and immunology diseases. Five Prime Therapeutics serves customers in the United States.

Potential upside of 200.3% exists for Five Prime Thera, based on a current level of $12.93 and analysts' average consensus price target of $38.83. The stock should hit resistance at its 200-day moving average (MA) of $13.19, as well as support at its 50-day MA of $11.26.

SmarTrend recommended that subscribers consider buying shares of Five Prime Thera on January 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.09. Since that recommendation, shares of Five Prime Thera have risen 17.1%. We continue to monitor FPRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle five prime thera

Ticker(s): FPRX