Possible Bearish Inside Day Candle Pattern Detected for QIAGEN (NASDAQ:QGEN)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in QIAGEN (NASDAQ:QGEN) based on the price action in the company's shares. Today's price range of $21.70 and $21.89 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 QIAGEN 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 19.6% for shares of QIAGEN based on a current price of $21.86 and an average consensus analyst price target of $26.15. The stock should find initial resistance at its 50-day moving average (MA) of $22.38 and further resistance at its 200-day MA of $24.71.
Over the past year, QIAGEN has traded in a range of $20.10 to $28.53 and is now at $21.86, 9% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.2%.
QIAGEN N.V. provides technologies for separating and purifying DNA and RNA. The Company's portfolio consists of consumable products for nucleic acid separation, purification, and handling and nucleic acid amplification, as well as automated instrumentation and related services.
SmarTrend is tracking the current trend status for QIAGEN and will alert subscribers who have QGEN in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish inside day candle qiagen