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

By Shiri Gupta

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. Yesterday's price range of $42.48 and $42.97 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 Qiagen Nv may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Qiagen Nv share prices have moved between a 52-week high of $43.05 and a 52-week low of $24.86 and closed yesterday at 71% above that low price at $42.54 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.6%.

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).

Qiagen Nv (NYSE:QGEN) defies analysts with a current price ($42.54) 15.7% above its average consensus price target of $35.87. Qiagen Nv shares have support at the 200-day moving average (MA) of $37.03 and additional support at the 50-day MA of $33.37.

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

Keywords: bearish am inside day candle qiagen nv

Ticker(s): QGEN