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Possible Bullish Inside Day Candle Pattern Detected for Genomic Health I (NASDAQ:GHDX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Genomic Health I (NASDAQ:GHDX) based on the price action in the company's shares. Yesterday's price range of $64.67 and $65.97 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 Genomic Health I may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Genomic Health I (NASDAQ:GHDX) is currently priced 47.9% above its average consensus analyst price target of $34.09. Genomic Health I shares should first meet resistance at the 200-day moving average (MA) of $67.33 and find additional resistance at the 50-day MA of $74.39.

In the past 52 weeks, shares of Genomic Health I have traded between a low of $30.86 and a high of $92.18 and closed yesterday at $65.49, which is 112% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.8%.

Genomic Health, Inc. is a life science company focused on the development and commercialization of genomic-based clinical diagnostic tests for cancer. The Company's diagnostic services provide information on the likelihood of disease recurrence and response to certain types of therapy.

SmarTrend is tracking the current trend status for Genomic Health I and will alert subscribers who have GHDX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle genomic health i

Ticker(s): GHDX