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Possible Bullish Inside Day Candle Pattern Detected for Newlink Genetics (NASDAQ:NLNK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Newlink Genetics (NASDAQ:NLNK) based on the price action in the company's shares. Yesterday's price range of $6.82 and $7.32 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 Newlink Genetics 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, Newlink Genetics share prices have been bracketed by a low of $5.90 and a high of $25.17 and closed yesterday at $6.92, 17% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has declined 2.4%.

Newlink Genetics (NASDAQ:NLNK) has potential upside of 235.0% based on a current price of $6.92 and analysts' consensus price target of $23.17. The stock should find initial resistance at its 50-day moving average (MA) of $18.13 and further resistance at its 200-day MA of $32.87.

NewLink Genetics Corporation as a biopharmaceutical company. The Company discovers, develops, and commercializes novel immuno-oncology products to helps cancer patients. NewLink Genetics operates in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Newlink Genetics on September 19th, 2017 by issuing a Downtrend alert when the shares were trading at $11.77. Since that call, shares of Newlink Genetics have fallen 42.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle newlink genetics

Ticker(s): NLNK