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

By Nick Russo

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. Today's price range of $14.05 and $14.54 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 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.

In the past 52 weeks, Endo Pharmaceuticals share prices have been bracketed by a low of $12.56 and a high of $96.58 and are now at $14.47, 15% 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 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.

Potential upside of 470.8% exists for Endo Pharmaceuticals, based on a current level of $14.47 and analysts' average consensus price target of $82.60. The stock should find initial resistance at its 50-day moving average (MA) of $32.81 and further resistance at its 200-day MA of $57.17.

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

Keywords: bullish inside day candle Endo Pharmaceuticals

Ticker(s): ENDP