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Possible Bullish Inside Day Candle Pattern Detected for Alexion Pharm (NASDAQ:ALXN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Alexion Pharm (NASDAQ:ALXN) based on the price action in the company's shares. Yesterday's price range of $96.92 and $98.70 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. Traders and investors interested in shares of Alexion Pharm may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Alexion Pharmaceuticals, Inc., a biopharmaceutical company, researches and develops proprietary immunoregulatory compounds for the treatment of autoimmune and cardiovascular diseases. The Company develops C5 complement inhibitors and apogens which are two classes of potential therapeutic compounds designed to selectively target specific disease-causing segments of the immune system.

Potential upside of 63.9% exists for Alexion Pharm, based on a current level of $96.92 and analysts' average consensus price target of $158.83. The stock should hit resistance at its 200-day moving average (MA) of $103.73, as well as support at its 50-day MA of $93.70.

Alexion Pharm share prices have moved between a 52-week high of $137.52 and a 52-week low of $72.67 and closed yesterday at 33% above that low price at $96.92 per share. The 200-day and 50-day moving averages have moved 0.44% lower and 0.08% higher over the past week, respectively.

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

Keywords: bullish am inside day candle alexion pharm

Ticker(s): ALXN