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

By Shiri Gupta

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 $34.41 and $34.41 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 $34.41, or 67.1% below the average consensus analyst price target of $104.67. The stock should hit resistance at its 200-day moving average (MA) of $43.71, as well as support at its 50-day MA of $34.14.

Over the past year, Nektar Therapeut has traded in a range of $29.22 to $92.17 and is now at $34.41, 18% above that low. The 200-day and 50-day moving averages have moved 0.7% lower and 1.72% lower over the past week, respectively.

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 recommended that its subscribers protect gains by selling shares of Nektar Therapeut on February 22nd, 2019 by issuing a Downtrend alert when the shares were trading at $40.51. Since that call, shares of Nektar Therapeut have fallen 12.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle nektar therapeut

Ticker(s): NKTR