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

By David Diaz

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 $33.73 and $33.85 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 $41.55 and are now at $33.82, -100% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%.

QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.

Potential upside of 6.1% exists for Qiagen Nv, based on a current level of $33.82 and analysts' average consensus price target of $35.87. Qiagen Nv shares should first meet resistance at the 50-day moving average (MA) of $37.32 and find additional resistance at the 200-day MA of $37.63.

SmarTrend recommended that its subscribers protect gains by selling shares of Qiagen Nv on July 25th, 2019 by issuing a Downtrend alert when the shares were trading at $37.75. Since that call, shares of Qiagen Nv have fallen 9.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle qiagen nv

Ticker(s): QGEN