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Possible Bearish Inside Day Candle Pattern Detected for United Therapeut (NASDAQ:UTHR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in United Therapeut (NASDAQ:UTHR) based on the price action in the company's shares. Yesterday's price range of $90.52 and $91.35 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 United Therapeut may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 27.5% exists for United Therapeut, based on a current level of $90.96 and analysts' average consensus price target of $116.00. The stock should find resistance at its 200-day moving average (MA) of $93.87, as well as support at its 50-day MA of $83.66.

In the past 52 weeks, shares of United Therapeut have traded between a low of $74.31 and a high of $128.94 and closed yesterday at $90.96, which is 22% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 0.68% higher over the past week, respectively.

United Therapeutics Corporation develops pharmaceuticals to treat vascular diseases such as pulmonary hypertension and peripheral vascular disease. The Company's lead products are stable synthetic forms of prostacyclin and are delivered orally or subcutaneously.

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

Keywords: bearish am inside day candle united therapeut

Ticker(s): UTHR