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Possible Bullish Inside Day Candle Pattern Detected for Endo Pharmaceuticals (NASDAQ:ENDP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Endo Pharmaceuticals (NASDAQ:ENDP) based on the price action in the company's shares. Yesterday's price range of $15.29 and $16.00 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 Endo 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.

Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical company with products that provide pain management. The Company researches, develops, produces, and markets both branded and generic pharmaceuticals. Endo's products include Percocet, Percodan, and Lidoderm.

In the past 52 weeks, shares of Endo Pharmaceuticals have traded between a low of $15.25 and a high of $96.58 and closed yesterday at $15.52, which is 2% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.3% while the 200-day MA has slid 2%.

Endo Pharmaceuticals (NASDAQ:ENDP) has potential upside of 432.2% based on a current price of $15.52 and analysts' consensus price target of $82.60. Endo Pharmaceuticals shares should first meet resistance at the 50-day moving average (MA) of $32.81 and find additional resistance at the 200-day MA of $57.17.

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

Keywords: bullish am inside day candle Endo Pharmaceuticals

Ticker(s): ENDP