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Possible Bearish Inside Day Candle Pattern Detected for Sage Therapeutic (NASDAQ:SAGE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sage Therapeutic (NASDAQ:SAGE) based on the price action in the company's shares. Yesterday's price range of $33.08 and $34.35 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 Sage Therapeutic may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sage Therapeutics, Inc. develops treatments for central nervous system disorders. The Company provides treatments for schizophrenia, major depressive disorder, pain, and traumatic brain injury conditions. Sage Therapeutics operates in the United States.

In the past 52 weeks, Sage Therapeutic share prices have been bracketed by a low of $25.01 and a high of $193.56 and closed yesterday at $34.21, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2% while the 50-day MA has declined 4.7%.

There is potential upside of 519.4% for shares of Sage Therapeutic based on a current price of $34.21 and an average consensus analyst price target of $211.90. The stock should find initial resistance at its 50-day moving average (MA) of $42.76 and further resistance at its 200-day MA of $109.85.

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

Keywords: bearish am inside day candle sage therapeutic

Ticker(s): SAGE