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

By James Quinn

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. Today's price range of $5.36 and $5.51 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 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.

In the past 52 weeks, shares of BioCryst Pharmaceuticals have traded between a low of $1.63 and a high of $16.83 and are now at $5.47, which is 236% above that low price. The 200-day and 50-day moving averages have moved 3.12% lower and 3.18% higher over the past week, respectively.

There is potential upside of 41.7% for shares of BioCryst Pharmaceuticals based on a current price of $5.47 and an average consensus analyst price target of $7.75. The stock should find resistance at its 200-day moving average (MA) of $8.10, as well as support at its 50-day MA of $2.84.

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.

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 inside day candle biocryst pharmaceuticals

Ticker(s): BCRX