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Possible Bearish Inside Day Candle Pattern Detected for Advaxis Inc (NASDAQ:ADXS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Advaxis Inc (NASDAQ:ADXS) based on the price action in the company's shares. Yesterday's price range of $0.70 and $0.72 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. Owners of Advaxis Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Advaxis, Inc. operates as a biotechnology company. The Company develops therapeutic cancer vaccines targeting cervical, head and neck, breast, prostate, and other cancers. Advaxis serves customers worldwide.

Potential upside of 1,257.1% exists for Advaxis Inc, based on a current level of $0.70 and analysts' average consensus price target of $9.50. The stock should hit resistance at its 200-day moving average (MA) of $1.23, as well as support at its 50-day MA of $0.46.

In the past 52 weeks, Advaxis Inc share prices have been bracketed by a low of $0.01 and a high of $10.80 and closed yesterday at $0.70, 6,900% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 6.8%.

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

Keywords: bearish am inside day candle advaxis inc

Ticker(s): ADXS