BMRN breaks below prior session low
BioMarin Pharmaceutical Inc. (BMRN) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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):
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.