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Possible Bearish Inside Day Candle Pattern Detected for Genmark Diagnost (NASDAQ:GNMK)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Genmark Diagnost (NASDAQ:GNMK) based on the price action in the company's shares. Yesterday's price range of $11.52 and $12.38 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 Genmark Diagnost may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

GenMark Diagnostics Inc. is a molecular diagnostics company focused on developing and commercializing its biomarker detection technology. The Company's system supports a broad range of molecular diagnostic tests with a compact workstation and self-contained disposable test cartridges.

Genmark Diagnost (NASDAQ:GNMK) defies analysts with a current price ($11.96) 18.1% above its average consensus price target of $9.80. Genmark Diagnost shares have support at the 50-day moving average (MA) of $6.53 and additional support at the 200-day MA of $5.92.

Over the past year, Genmark Diagnost has traded in a range of $3.37 to $13.49 and closed yesterday at $11.96, 255% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 12.7% while the 200-day MA has risen 2.3%.

SmarTrend is tracking the current trend status for Genmark Diagnost and will alert subscribers who have GNMK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle genmark diagnost

Ticker(s): GNMK