• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Tg Therapeutics (NASDAQ:TGTX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tg Therapeutics (NASDAQ:TGTX) based on the price action in the company's shares. Yesterday's price range of $7.50 and $7.75 is within the prior day'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 Tg Therapeutics 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 264.6% exists for Tg Therapeutics, based on a current level of $7.68 and analysts' average consensus price target of $28.00. The stock should find initial support at its 50-day moving average (MA) of $7.50 and further support at its 200-day MA of $6.33.

TG Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the acquisition, development, and commercialization of innovative pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is developing two therapies targeting hematological malignancies, specifically, relapsed, and refractory non-Hodgkins lymphoma.

In the past 52 weeks, Tg Therapeutics share prices have been bracketed by a low of $3.32 and a high of $14.65 and closed yesterday at $7.68, 131% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 0.7%.

SmarTrend recommended that subscribers consider buying shares of Tg Therapeutics on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.84. Since that recommendation, shares of Tg Therapeutics have risen 60.7%. We continue to monitor TGTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle tg therapeutics

Ticker(s): TGTX