• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Momenta Pharmace (NASDAQ:MNTA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Momenta Pharmace (NASDAQ:MNTA) based on the price action in the company's shares. Yesterday's price range of $27.15 and $27.95 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 Momenta Pharmace may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Momenta Pharmaceuticals, Inc. is a biotechnology company. The Company specializes in sequencing and engineering of complex sugars for the development of improved versions of existing drugs, the development of novel drugs, and the discovery of new biological processes. Momenta also develops technology-enabled generic products.

Momenta Pharmace share prices have moved between a 52-week high of $28.50 and a 52-week low of $9.66 and closed yesterday at 188% above that low price at $27.85 per share. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.8%.

Momenta Pharmace (NASDAQ:MNTA) defies analysts with a current price ($27.85) 36.1% above its average consensus price target of $17.80. Momenta Pharmace shares have support at the 50-day moving average (MA) of $22.86 and additional support at the 200-day MA of $17.60.

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

Keywords: bearish am inside day candle momenta pharmace

Ticker(s): MNTA