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Possible Bullish Inside Day Candle Pattern Detected for Adamas Pharmaceu (NASDAQ:ADMS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Adamas Pharmaceu (NASDAQ:ADMS) based on the price action in the company's shares. Yesterday's price range of $9.66 and $9.87 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. Traders and investors interested in shares of Adamas Pharmaceu may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 464.7% for shares of Adamas Pharmaceu based on a current price of $9.68 and an average consensus analyst price target of $54.67. The stock should find initial resistance at its 50-day moving average (MA) of $13.99 and further resistance at its 200-day MA of $22.66.

Adamas Pharmaceuticals, Inc. is a specialty pharmaceutical company. The Company develops drugs to improve the lives of those affected by chronic disorders of the central nervous system. Adamas Pharmaceuticals seeks to achieve this by modifying the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products.

Adamas Pharmaceu share prices have moved between a 52-week high of $44.00 and a 52-week low of $9.03 and closed yesterday at 7% above that low price at $9.68 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Adamas Pharmaceu on June 15th, 2018 by issuing a Downtrend alert when the shares were trading at $26.70. Since that call, shares of Adamas Pharmaceu have fallen 64.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle adamas pharmaceu

Ticker(s): ADMS