• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Qiagen Nv (NYSE:QGEN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Qiagen Nv (NYSE:QGEN) based on the price action in the company's shares. Today's price range of $39.85 and $39.87 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 Nv may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Qiagen Nv share prices have been bracketed by a low of $0.00 and a high of $40.40 and are now at $39.85, -100% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

Qiagen Nv (NYSE:QGEN) is currently priced 10.0% above its average consensus analyst price target of $35.87. The stock should find initial support at its 50-day moving average (MA) of $37.99 and further support at its 200-day MA of $36.74.

QIAGEN N.V. is a global provider of Sample to Insight solutions to transform biological materials into valuable molecular insights. The Company provides its workflows to customers in Molecular Diagnostics (human healthcare), Applied Testing (forensics, veterinary testing and food safety), Pharma (pharmaceutical and biotechnology companies) and Academia (life sciences research).

SmarTrend recommended that subscribers consider buying shares of Qiagen Nv on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.73. Since that recommendation, shares of Qiagen Nv have risen 16.1%. We continue to monitor QGEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle qiagen nv

Ticker(s): QGEN