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

By Amy Schwartz

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 $114.10 and $116.00 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 $114.42, or 30.3% below the average consensus analyst price target of $164.06. The stock should find initial resistance at its 50-day moving average (MA) of $144.17 and further resistance at its 200-day MA of $164.17.

In the past 52 weeks, Alexion Pharmaceuticals share prices have been bracketed by a low of $96.18 and a high of $208.88 and are now at $114.42, 19% above that low price. The 200-day and 50-day moving averages have moved 0.75% lower and 0.09% lower over the past week, respectively.

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.

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

Keywords: bullish inside day candle alexion pharmaceuticals

Ticker(s): ALXN