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

By Amy Schwartz

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 $5.37 and $5.39 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.

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.

Potential upside of 340.7% exists for Karyopharm Thera, based on a current level of $5.37 and analysts' average consensus price target of $23.67. Karyopharm Thera shares should first meet resistance at the 50-day moving average (MA) of $7.44 and find additional resistance at the 200-day MA of $13.20.

In the past 52 weeks, Karyopharm Thera share prices have been bracketed by a low of $3.92 and a high of $21.71 and are now at $5.37, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 3.5%.

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 inside day candle karyopharm thera

Ticker(s): KPTI