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Possible Bearish Inside Day Candle Pattern Detected for Stemline Therape (NASDAQ:STML)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stemline Therape (NASDAQ:STML) based on the price action in the company's shares. Yesterday's price range of $13.51 and $13.78 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 Stemline Therape may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Stemline Therape has traded in a range of $7.82 to $17.85 and closed yesterday at $13.47, 72% above that low. The 200-day and 50-day moving averages have moved 0.64% lower and 1.54% lower over the past week, respectively.

Stemline Therapeutics Inc. provides biopharmaceutical services. The Company offers research, discovery, and development of novel compounds that target cancer stem cells.

There is potential upside of 141.3% for shares of Stemline Therape based on a current price of $13.47 and an average consensus analyst price target of $32.50. The stock should hit resistance at its 50-day moving average (MA) of $14.39, as well as support at its 200-day MA of $12.99.

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

Keywords: bearish am inside day candle stemline therape

Ticker(s): STML