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Possible Bearish Inside Day Candle Pattern Detected for Nektar Therapeut (NASDAQ:NKTR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nektar Therapeut (NASDAQ:NKTR) based on the price action in the company's shares. Today's price range of $56.57 and $57.73 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 Nektar Therapeut may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nektar Therapeut has overhead space with shares priced $57.19, or 45.4% below the average consensus analyst price target of $104.67. Nektar Therapeut shares should first meet resistance at the 200-day moving average (MA) of $63.01 and find additional resistance at the 50-day MA of $79.83.

Nektar Therapeut share prices have moved between a 52-week high of $111.36 and a 52-week low of $17.51 and are now trading 227% above that low price at $57.19 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.5% while the 200-day MA has risen 1.5%.

Nektar Therapeutics is a clinical-stage biopharmaceutical company which develops a pipeline of drug candidates that utilize company platforms. The Company's product pipeline is comprised of early to late stage drug candidates across a number of therapeutic areas including oncology, pain, anti-infectives, anti-viral, and immunology.

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

Keywords: bearish inside day candle nektar therapeut

Ticker(s): NKTR