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Possible Bullish Inside Day Candle Pattern Detected for Horizon Pharma P (NASDAQ:HZNP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Horizon Pharma P (NASDAQ:HZNP) based on the price action in the company's shares. Yesterday's price range of $24.80 and $25.14 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 Horizon Pharma P may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Horizon Pharma P (NASDAQ:HZNP) is currently priced 20.2% above its average consensus analyst price target of $19.80. Horizon Pharma P shares should encounter resistance at the 50-day moving average (MA) of $26.48 and support at its 200-day MA of $22.26.

Horizon Pharma P share prices have moved between a 52-week high of $29.44 and a 52-week low of $14.89 and closed yesterday at 67% above that low price at $24.80 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has declined 0.6%.

Horizon Pharma plc operates as a biopharmaceutical company. Horizon Pharma develops, acquires, and commercializes late-stage biopharmaceutical therapies for the treatment of pain and inflammation as well as specialty and orphan diseases.

SmarTrend is tracking the current trend status for Horizon Pharma P and will alert subscribers who have HZNP in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle horizon pharma p

Ticker(s): HZNP