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Possible Bullish Inside Day Candle Pattern Detected for Alexion Pharmaceuticals (NASDAQ:ALXN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Alexion Pharmaceuticals (NASDAQ:ALXN) based on the price action in the company's shares. Today's price range of $114.50 and $117.90 is within yesterday'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 Alexion Pharmaceuticals may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Alexion Pharmaceuticals has overhead space with shares priced $117.46, or 45.9% below the average consensus analyst price target of $217.23. The stock should run into initial resistance at its 50-day moving average (MA) of $144.17 and subsequent resistance at its 200-day MA of $164.17.

Alexion Pharmaceuticals, Inc., a biopharmaceutical company, researches and develops proprietary immunoregulatory compounds for the treatment of autoimmune and cardiovascular diseases. The Company develops C5 complement inhibitors and Apogens which are two classes of potential therapeutic compounds designed to selectively target specific disease-causing segments of the immune system.

Alexion Pharmaceuticals share prices have moved between a 52-week high of $208.88 and a 52-week low of $110.56 and are now trading 6% above that low price at $117.46 per share. The 200-day and 50-day moving averages have moved 0.75% lower and 0.09% lower over the past week, respectively.

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

Keywords: bullish inside day candle alexion pharmaceuticals

Ticker(s): ALXN