The Hourly View for BMRN
At the time of this writing, BMRN’s price is down $-0.02 (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
BMRN’s Technical Outlook on the Daily Chart
At the moment, BMRN’s price is up $0.13 (0.16%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as BMRN has now gone up 8 of the past 10 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on BMRN. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows BMRN’s price action over the past 90 days.
For BMRN News Traders
Investors and traders in BMRN may be particularly interested in the following story that came out in the past day:
SAN RAFAEL, Calif., Dec. 1, 2020 /PRNewswire/ — BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced that management will participate in two upcoming virtual conferences. An audio webcast of the presentations will be available live. You can access the webcast at: https://investors….
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