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

By James Quinn

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 $118.99 and $119.98 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.

Based on a current price of $119.56, Sarepta Therapeu is currently 16.3% above its average consensus analyst price target of $100.08. The stock should hit resistance at its 50-day moving average (MA) of $119.68, as well as support at its 200-day MA of $118.10.

Sarepta Therapeu share prices have moved between a 52-week high of $176.50 and a 52-week low of $50.68 and closed yesterday at 136% above that low price at $119.56 per share. The 200-day and 50-day moving averages have moved 0.56% higher and 0.09% lower over the past week, respectively.

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.

SmarTrend recommended that subscribers consider buying shares of Sarepta Therapeu on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $107.91. Since that recommendation, shares of Sarepta Therapeu have risen 11.5%. 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