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Possible Bullish Inside Day Candle Pattern Detected for Diplomat Pharmac (NYSE:DPLO)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Diplomat Pharmac (NYSE:DPLO) based on the price action in the company's shares. Yesterday's price range of $5.30 and $5.41 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 Diplomat Pharmac 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, Diplomat Pharmac has traded in a range of $4.18 to $26.37 and closed yesterday at $5.30, 27% above that low. The 200-day and 50-day moving averages have moved 3.18% lower and 0.51% lower over the past week, respectively.

There is potential upside of 371.7% for shares of Diplomat Pharmac based on a current price of $5.30 and an average consensus analyst price target of $25.00. Diplomat Pharmac shares should encounter resistance at the 200-day moving average (MA) of $10.45 and support at the 50-day MA of $5.28.

Diplomat Pharmacy, Inc. is a specialty pharmacy that services patients with complex chronic diseases. The Company aids in the dispensing, delivery, dosing and reimbursement of clinically intensive, high-cost specialty drugs.

SmarTrend is tracking the current trend status for Diplomat Pharmac and will alert subscribers who have DPLO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle diplomat pharmac

Ticker(s): DPLO