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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. Yesterday's price range of $35.16 and $35.69 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.

There is potential upside of 1.1% for shares of Qiagen Nv based on a current price of $35.48 and an average consensus analyst price target of $35.87. The stock should run into initial resistance at its 200-day moving average (MA) of $36.35 and subsequent resistance at its 50-day MA of $37.32.

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).

In the past 52 weeks, Qiagen Nv share prices have been bracketed by a low of $24.86 and a high of $43.16 and closed yesterday at $35.48, 43% above that low price. The 200-day and 50-day moving averages have moved 0.34% lower and 1.76% lower over the past week, respectively.

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