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Possible Bearish Inside Day Candle Pattern Detected for Intra-Cellular T (NASDAQ:ITCI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intra-Cellular T (NASDAQ:ITCI) based on the price action in the company's shares. Today's price range of $12.53 and $12.53 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 Intra-Cellular T may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 138.5% exists for Intra-Cellular T, based on a current level of $12.53 and analysts' average consensus price target of $29.89. The stock should find initial resistance at its 50-day moving average (MA) of $12.85 and further resistance at its 200-day MA of $15.72.

Intra-Cellular Therapies Inc. researches and develops biopharmaceutical drugs. The Company engages in the research and development of small molecule drugs to treat neuropsychiatric and neurological diseases and other disorders of the central nervous system. Intra-Cellular Therapies offers its products to the medical industry.

Over the past year, Intra-Cellular T has traded in a range of $10.21 to $25.82 and is now at $12.53, 23% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.6%.

SmarTrend is monitoring the recent change of momentum in Intra-Cellular T. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Intra-Cellular T in search of a potential trend change.

Keywords: bearish inside day candle intra-cellular t

Ticker(s): ITCI