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Possible Bullish Inside Day Candle Pattern Detected for Cell Therapeutics (NASDAQ:CTIC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cell Therapeutics (NASDAQ:CTIC) based on the price action in the company's shares. Today's price range of $1.81 and $1.85 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 Cell 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, shares of Cell Therapeutics have traded between a low of $1.77 and a high of $3.81 and are now at $1.83, which is 3% above that low price. The 200-day and 50-day moving averages have moved 0.93% lower and 1.58% lower over the past week, respectively.

Cell Therapeutics, Inc. is a biopharmaceutical company. The Company researches and develops cancer drugs.

There is potential upside of 188.8% for shares of Cell Therapeutics based on a current price of $1.83 and an average consensus analyst price target of $5.29. The stock should find initial resistance at its 50-day moving average (MA) of $2.26 and further resistance at its 200-day MA of $2.44.

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

Keywords: bullish inside day candle cell therapeutics

Ticker(s): CTIC