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

By Shiri Gupta

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 $7.06 and $7.18 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.

Over the past year, Amicus Therapeutics has traded in a range of $4.99 to $18.83 and is now at $7.15, 43% above that low. The 200-day and 50-day moving averages have moved 1.86% lower and 0.13% higher over the past week, respectively.

Amicus Therapeutics (NASDAQ:FOLD) has potential upside of 95.8% based on a current price of $7.15 and analysts' consensus price target of $14.00. The stock should run into initial resistance at its 50-day moving average (MA) of $7.71 and subsequent 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 tracking the current trend status for Amicus Therapeutics and will alert subscribers who have FOLD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle amicus therapeutics

Ticker(s): FOLD