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Possible Bearish Inside Day Candle Pattern Detected for Portola Pharmace (NASDAQ:PTLA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Portola Pharmace (NASDAQ:PTLA) based on the price action in the company's shares. Today's price range of $35.17 and $35.17 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 Portola Pharmace may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 60.9% for shares of Portola Pharmace based on a current price of $35.17 and an average consensus analyst price target of $56.60. Portola Pharmace shares have support at the 50-day moving average (MA) of $33.18 and additional support at the 200-day MA of $27.84.

Portola Pharmaceuticals, Inc. provides specialty pharmaceutical products. The Company offers novel therapeutics for thrombosis, hematologic disorders, and inflammation. Portola Pharmaceuticals serves customers in the United States.

Over the past year, Portola Pharmace has traded in a range of $14.81 to $45.60 and is now at $35.17, 137% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Portola Pharmace and will alert subscribers who have PTLA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle portola pharmace

Ticker(s): PTLA