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Possible Bullish Inside Day Candle Pattern Detected for Opko Health (NYSE:OPK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Opko Health (NYSE:OPK) based on the price action in the company's shares. Today's price range of $9.35 and $9.44 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 Opko Health may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Opko Health, Inc. is a specialty pharmaceutical company that researches and develops pharmaceuticals. The Company researches treatments for macular degeneration and other ophthalmic diseases.

Opko Health (NYSE:OPK) has potential upside of 91.6% based on a current price of $9.39 and analysts' consensus price target of $18.00. Opko Health shares should first meet resistance at the 200-day moving average (MA) of $10.41 and find additional resistance at the 50-day MA of $10.50.

In the past 52 weeks, shares of Opko Health have traded between a low of $7.12 and a high of $19.20 and are now at $9.39, which is 32% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.9%.

SmarTrend is monitoring the recent change of momentum in Opko Health. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Opko Health in search of a potential trend change.

Keywords: bullish inside day candle opko health

Ticker(s): OPK