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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 $23.52 and $24.64 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.

There is potential upside of 100.4% for shares of Revance Therapeu based on a current price of $24.20 and an average consensus analyst price target of $48.50. The stock should hit resistance at its 200-day moving average (MA) of $27.60, as well as support at its 50-day MA of $22.82.

In the past 52 weeks, shares of Revance Therapeu have traded between a low of $12.35 and a high of $37.45 and closed yesterday at $24.20, which is 96% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.6%.

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.

SmarTrend is monitoring the recent change of momentum in Revance Therapeu. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Revance Therapeu in search of a potential trend change.

Keywords: bearish am inside day candle revance therapeu

Ticker(s): RVNC