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Possible Bullish Inside Day Candle Pattern Detected for Five Prime Thera (NASDAQ:FPRX)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Five Prime Thera (NASDAQ:FPRX) based on the price action in the company's shares. Yesterday's price range of $12.48 and $12.65 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 Five Prime Thera may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Five Prime Therapeutics, Inc. provides clinical stage biotechnology services. The Company offers innovative proteins, antibody therapeutics, and drugs for oncology and immunology diseases. Five Prime Therapeutics serves customers in the United States.

Potential upside of 209.2% exists for Five Prime Thera, based on a current level of $12.56 and analysts' average consensus price target of $38.83. The stock should hit resistance at its 200-day moving average (MA) of $12.78, as well as support at its 50-day MA of $12.32.

In the past 52 weeks, Five Prime Thera share prices have been bracketed by a low of $7.84 and a high of $19.70 and closed yesterday at $12.56, 60% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.5%.

SmarTrend is tracking the current trend status for Five Prime Thera and will alert subscribers who have FPRX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle five prime thera

Ticker(s): FPRX