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Possible Bearish Inside Day Candle Pattern Detected for Fluidigm Corp (NASDAQ:FLDM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fluidigm Corp (NASDAQ:FLDM) based on the price action in the company's shares. Yesterday's price range of $5.08 and $5.51 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 Fluidigm Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fluidigm Corporation develops, manufactures, and markets proprietary integrated fluidic circuit systems. The Company has commercialized IFC systems for a wide range of life science applications, including a system for gene expression analysis, genotyping, and digital PCR, and a system for protein crystallization.

Over the past year, Fluidigm Corp has traded in a range of $2.52 to $8.38 and closed yesterday at $5.24, 108% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.2%.

There is potential upside of 33.1% for shares of Fluidigm Corp based on a current price of $5.24 and an average consensus analyst price target of $6.97. The stock should find initial resistance at its 50-day moving average (MA) of $5.67 and further resistance at its 200-day MA of $5.84.

SmarTrend recommended that its subscribers protect gains by selling shares of Fluidigm Corp on March 1st, 2018 by issuing a Downtrend alert when the shares were trading at $6.79. Since that call, shares of Fluidigm Corp have fallen 18.6%. 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 fluidigm corp

Ticker(s): FLDM