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

By David Diaz

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. Today's price range of $6.03 and $6.09 is within yesterday'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.

Potential upside of 291.8% exists for Karyopharm Thera, based on a current level of $6.04 and analysts' average consensus price target of $23.67. The stock should hit resistance at its 200-day moving average (MA) of $9.07, as well as support at its 50-day MA of $5.23.

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, shares of Karyopharm Thera have traded between a low of $3.92 and a high of $21.71 and are now at $6.04, which is 54% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 3%.

SmarTrend recommended that subscribers consider buying shares of Karyopharm Thera on March 20th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.36. Since that recommendation, shares of Karyopharm Thera have risen 15.3%. We continue to monitor KPTI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle karyopharm thera

Ticker(s): KPTI