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

By James Quinn

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. Yesterday's price range of $3.22 and $3.37 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 Therapeuticsmd may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Therapeuticsmd has overhead space with shares priced $3.35, or 79.2% 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.

In the past 52 weeks, Therapeuticsmd share prices have been bracketed by a low of $1.84 and a high of $6.94 and closed yesterday at $3.35, 82% above that low price. The 200-day and 50-day moving averages have moved 1.04% lower and 0.90% higher over the past week, respectively.

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.

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 29.2%. We continue to monitor TXMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle therapeuticsmd

Ticker(s): TXMD