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Possible Bullish Inside Day Candle Pattern Detected for Blueprint Medici (NASDAQ:BPMC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Blueprint Medici (NASDAQ:BPMC) based on the price action in the company's shares. Yesterday's price range of $83.01 and $85.42 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 Blueprint Medici may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Blueprint Medicines Corporation develops and distributes biomedical treatments. The Company researches and produces medicines and treatments for cancer targeting the molecular differences. Blueprint Medicines focuses selective drugs for genomically defined cancer patients.

Potential upside of 28.0% exists for Blueprint Medici, based on a current level of $83.62 and analysts' average consensus price target of $107.00. Blueprint Medici shares should encounter resistance at the 50-day moving average (MA) of $93.58 and support at its 200-day MA of $76.08.

In the past 52 weeks, Blueprint Medici share prices have been bracketed by a low of $44.58 and a high of $102.98 and closed yesterday at $83.62, 88% above that low price. The 200-day and 50-day moving averages have moved 0.40% higher and 0.84% higher over the past week, respectively.

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

Keywords: bullish am inside day candle blueprint medici

Ticker(s): BPMC