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Possible Bearish Inside Day Candle Pattern Detected for Revance Therapeu (NASDAQ:RVNC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Revance Therapeu (NASDAQ:RVNC) based on the price action in the company's shares. Yesterday's price range of $19.16 and $19.96 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 Revance Therapeu may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 145.6% exists for Revance Therapeu, based on a current level of $19.75 and analysts' average consensus price target of $48.50. Revance Therapeu shares have support at the 50-day moving average (MA) of $14.95 and additional support at the 200-day MA of $13.63.

Revance Therapeutics, Inc. produces biopharmaceutical products. The Company develops drug delivery and treatments for dermatology and aesthetic medicine. Revance Therapeutics serves patients and doctors throughout the United States.

In the past 52 weeks, Revance Therapeu share prices have been bracketed by a low of $12.35 and a high of $28.30 and closed yesterday at $19.75, 60% above that low price. The 200-day and 50-day moving averages have moved 0.16% higher and 2.16% higher over the past week, respectively.

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

Keywords: bearish am inside day candle revance therapeu

Ticker(s): RVNC