BMRN breaks below prior session low

BioMarin Pharmaceutical Inc. (BMRN) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


BMRN breaks below previous session low


BMRN finished Thursday at 88.43 losing $1.09 (-1.22%) on low volume. Closing below Wednesday's low at 88.57, the market confirms its breakout through the prior session's low having traded $0.95 below it intraday.

Daily Candlestick Chart (BMRN as at May 17, 2018):

Daily technical analysis candlestick chart for BioMarin Pharmaceutical Inc. (BMRN) as at May 17, 2018

Thursday's trading range was $1.67 (1.88%), that's below last trading month's daily average range of $2.29. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Buying could speed up should prices move above the close-by swing high at 89.98 where further buy stops might get activated.

Market Conditions for BMRN as at May 17, 2018

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