Analyzing the price chart for 3SBio (SSRX.NSDQ) has revealed a potential bearish engulfing pattern. Yesterday, 3SBio traded 125,000 shares vs. average volume of 82,000 shares per day. The company traded 74,000 shares on Wednesday. Heavy volume increases the reliability of this bearish candlestick pattern.

In the past 52 weeks, 3SBio share prices have been bracketed by a low of $12.04 and a high of $20.00 and are now at $13.01, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.3%.

3SBio, Inc. is a biotechnology company. The Company researches treatments in the areas of nephrology, oncology, supportive cancer care, inflammation, and infectious diseases.

3SBio has overhead space with shares priced $13.01, or 62.2% below the average consensus analyst price target of $21.10. The stock should find initial resistance at its 50-day moving average (MA) of $15.62 and further resistance at its 200-day MA of $16.16.