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Possible Bearish Inside Day Candle Pattern Detected for Therapeuticsmd (NASDAQ:TXMD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Therapeuticsmd (NASDAQ:TXMD) based on the price action in the company's shares. Today's price range of $3.05 and $3.07 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 Therapeuticsmd may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TherapeuticsMD, Inc. is a specialty pharmaceutical company focused on creating safe and effective branded and generic prescription, and over-the-counter products targeted exclusively for women. The Company is developing three advanced hormone replacement products designed to alleviate the symptoms of and reduce the health risks resulting from menopause-related hormone deficiencies.

In the past 52 weeks, Therapeuticsmd share prices have been bracketed by a low of $1.84 and a high of $6.94 and are now at $3.06, 66% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 1%.

Therapeuticsmd has overhead space with shares priced $3.06, or 81.0% below the average consensus analyst price target of $16.08. The stock should hit resistance at its 200-day moving average (MA) of $3.97, as well as support at its 50-day MA of $2.55.

SmarTrend recommended that subscribers consider buying shares of Therapeuticsmd on August 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.56. Since that recommendation, shares of Therapeuticsmd have risen 20.9%. We continue to monitor TXMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle therapeuticsmd

Ticker(s): TXMD