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Possible Bullish Inside Day Candle Pattern Detected for Amicus Therapeutics (NASDAQ:FOLD)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Amicus Therapeutics (NASDAQ:FOLD) based on the price action in the company's shares. Today's price range of $5.65 and $5.90 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 Amicus Therapeutics may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Amicus Therapeutics share prices have been bracketed by a low of $4.99 and a high of $18.83 and are now at $5.80, 16% above that low price. The 200-day and 50-day moving averages have moved 1.86% lower and 0.13% higher over the past week, respectively.

There is potential upside of 141.2% for shares of Amicus Therapeutics based on a current price of $5.80 and an average consensus analyst price target of $14.00. The stock should find initial resistance at its 50-day moving average (MA) of $7.71 and further resistance at its 200-day MA of $10.00.

Amicus Therapeutics, Inc. is a biopharmaceutical company that develops orally-administered, small molecule drugs to treat human genetic diseases. The drugs, called pharmacological chaperones, are being developed to treat Fabray, Gaucher, and Pompe disease.

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

Keywords: bullish inside day candle amicus therapeutics

Ticker(s): FOLD