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Possible Bullish Inside Day Candle Pattern Detected for BioCryst Pharmaceuticals (NASDAQ:BCRX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in BioCryst Pharmaceuticals (NASDAQ:BCRX) based on the price action in the company's shares. Yesterday's price range of $5.36 and $5.63 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 BioCryst 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.

BioCryst Pharmaceuticals, Inc., a biopharmaceutical company, discovers and designs novel small-molecule pharmaceuticals using structure-based drug design. The Company's products are used for the treatment of immunological, viral, and cardiovascular diseases and disorders. BioCryst's lead immunological drug program targets T-cell proliferative disorders.

BioCryst Pharmaceuticals share prices have moved between a 52-week high of $16.83 and a 52-week low of $1.63 and closed yesterday at 244% above that low price at $5.60 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has slid 3.1%.

BioCryst Pharmaceuticals has overhead space with shares priced $5.60, or 27.7% below the average consensus analyst price target of $7.75. BioCryst Pharmaceuticals shares should encounter resistance at the 200-day moving average (MA) of $8.10 and support at the 50-day MA of $2.84.

SmarTrend recommended that its subscribers protect gains by selling shares of BioCryst Pharmaceuticals on April 6th, 2017 by issuing a Downtrend alert when the shares were trading at $7.46. Since that call, shares of BioCryst Pharmaceuticals have fallen 28.2%. 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 biocryst pharmaceuticals

Ticker(s): BCRX