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Possible Bearish Inside Day Candle Pattern Detected for Sarepta Therapeu (NASDAQ:SRPT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sarepta Therapeu (NASDAQ:SRPT) based on the price action in the company's shares. Yesterday's price range of $144.47 and $154.90 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 Sarepta Therapeu may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sarepta Therapeutics, Inc. is a biopharmaceutical company focused on the discovery and development of unique RNA-based therapeutics for the treatment of both rare and infectious diseases. The Company offers its products to the medical industry in countries around the world.

Sarepta Therapeu (NASDAQ:SRPT) is currently priced 34.9% above its average consensus analyst price target of $100.08. Sarepta Therapeu shares have support at the 50-day moving average (MA) of $91.20 and additional support at the 200-day MA of $66.72.

Sarepta Therapeu share prices have moved between a 52-week high of $176.50 and a 52-week low of $32.36 and closed yesterday at 375% above that low price at $153.69 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.0% while the 200-day MA has risen 2.2%.

SmarTrend recommended that subscribers consider buying shares of Sarepta Therapeu on April 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.45. Since that recommendation, shares of Sarepta Therapeu have risen 81.2%. We continue to monitor SRPT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle sarepta therapeu

Ticker(s): SRPT