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Possible Bullish Inside Day Candle Pattern Detected for Pacific Biosciences of California (NASDAQ:PACB)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pacific Biosciences of California (NASDAQ:PACB) based on the price action in the company's shares. Today's price range of $8.83 and $9.01 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 Pacific Biosciences of California may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Pacific Biosciences of California Inc. has developed a novel approach to studying the synthesis and regulation of DNA, RNA and protein. The Company's system enables real-time analysis of biomolecules with single molecule resolution.

Pacific Biosciences of California has overhead space with shares priced $8.96, or 4.0% below the average consensus analyst price target of $9.33. The stock should find initial support at its 50-day moving average (MA) of $8.85 and further support at its 200-day MA of $8.22.

In the past 52 weeks, Pacific Biosciences of California share prices have been bracketed by a low of $3.58 and a high of $14.00 and are now at $8.96, 150% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Pacific Biosciences of California and will alert subscribers who have PACB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle pacific biosciences of california

Ticker(s): PACB