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Possible Bullish Inside Day Candle Pattern Detected for Agios Pharmaceut (NASDAQ:AGIO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Agios Pharmaceut (NASDAQ:AGIO) based on the price action in the company's shares. Yesterday's price range of $32.00 and $33.75 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 Agios Pharmaceut may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Agios Pharmaceut has traded in a range of $28.36 to $74.25 and closed yesterday at $33.64, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.2% while the 200-day MA has slid 1.1%.

Agios Pharmaceut has overhead space with shares priced $33.64, or 60.8% below the average consensus analyst price target of $85.75. Agios Pharmaceut shares should first meet resistance at the 50-day moving average (MA) of $34.45 and find additional resistance at the 200-day MA of $48.43.

Agios Pharmaceuticals, Inc. discovers and develops therapeutics in the field of cancer metabolism. The Company develops drugs focusing on glycolysis, fatty acid metabolism, and autophagy. Agios Pharmaceuticals operates in the United States.

SmarTrend is tracking the current trend status for Agios Pharmaceut and will alert subscribers who have AGIO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle agios pharmaceut

Ticker(s): AGIO