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Possible Bullish Inside Day Candle Pattern Detected for Supernus Pharmac (NASDAQ:SUPN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Supernus Pharmac (NASDAQ:SUPN) based on the price action in the company's shares. Yesterday's price range of $22.17 and $22.86 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 Supernus Pharmac may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Supernus Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company develops and markets proprietary drugs for the treatment of central nervous system diseases and disorders. Supernus has developed a portfolio of clinical stage drugs to address neurological and psychological problems such as epilepsy, conduct disorder, Parkinson's disease, ADHD, depression and anxiety.

There is potential upside of 162.9% for shares of Supernus Pharmac based on a current price of $22.17 and an average consensus analyst price target of $58.29. The stock should find resistance at its 200-day moving average (MA) of $24.55, as well as support at its 50-day MA of $18.67.

In the past 52 weeks, Supernus Pharmac share prices have been bracketed by a low of $13.12 and a high of $38.48 and closed yesterday at $22.17, 69% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.39% lower over the past week, respectively.

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

Keywords: bullish am inside day candle supernus pharmac

Ticker(s): SUPN