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Possible Bullish Inside Day Candle Pattern Detected for Alnylam Pharmace (NASDAQ:ALNY)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Alnylam Pharmace (NASDAQ:ALNY) based on the price action in the company's shares. Yesterday's price range of $78.44 and $80.81 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 Alnylam Pharmace may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Alnylam Pharmace share prices have moved between a 52-week high of $153.99 and a 52-week low of $60.27 and closed yesterday at 34% above that low price at $80.81 per share. The 200-day and 50-day moving averages have moved 0.25% lower and 0.25% higher over the past week, respectively.

Alnylam Pharmaceuticals, Inc. operates as an early-stage therapeutics company. The Company discovers and develops drug and medicines for the treatment of human disease. Alnylam Pharmaceuticals serves health care sectors in the United States and the United Kingdom.

There is potential upside of 81.9% for shares of Alnylam Pharmace based on a current price of $80.81 and an average consensus analyst price target of $147.00. The stock should hit resistance at its 200-day moving average (MA) of $90.26, as well as support at its 50-day MA of $78.17.

SmarTrend recommended that its subscribers protect gains by selling shares of Alnylam Pharmace on January 15th, 2019 by issuing a Downtrend alert when the shares were trading at $80.31. Since that call, shares of Alnylam Pharmace have fallen 3.3%. 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 alnylam pharmace

Ticker(s): ALNY