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

By David Diaz

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 $34.58 and $34.76 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.

In the past 52 weeks, shares of Nektar Therapeut have traded between a low of $29.22 and a high of $69.76 and are now at $34.60, which is 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 0.2%.

There is potential upside of 202.5% for shares of Nektar Therapeut based on a current price of $34.60 and an average consensus analyst price target of $104.67. The stock should hit resistance at its 200-day moving average (MA) of $40.10, as well as support at its 50-day MA of $33.09.

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States.

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