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Possible Bearish Inside Day Candle Pattern Detected for Karyopharm Thera (NASDAQ:KPTI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Karyopharm Thera (NASDAQ:KPTI) based on the price action in the company's shares. Yesterday's price range of $14.62 and $15.09 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. Owners of Karyopharm Thera may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Karyopharm Therapeutics, Inc. provides biopharmaceutical products and services. The Company develops and discovers drugs for the treatment of cancer, inflammation, and diseases related to cell proliferation through activity modulation of critical pathways. Karyopham Therapeutics serves the healthcare industry throughout the United States and Germany.

In the past 52 weeks, Karyopharm Thera share prices have been bracketed by a low of $6.27 and a high of $18.00 and closed yesterday at $14.71, 135% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has slid 2.7%.

Potential upside of 20.3% exists for Karyopharm Thera, based on a current level of $14.71 and analysts' average consensus price target of $17.70. The stock should find initial support at its 200-day moving average (MA) of $11.92 and further support at its 50-day MA of $8.47.

SmarTrend is monitoring the recent change of momentum in Karyopharm Thera. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Karyopharm Thera in search of a potential trend change.

Keywords: bearish am inside day candle karyopharm thera

Ticker(s): KPTI