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Possible Bullish Inside Day Candle Pattern Detected for Nektar Therapeutics (NASDAQ:NKTR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Nektar Therapeutics (NASDAQ:NKTR) based on the price action in the company's shares. Today's price range of $13.54 and $13.93 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. Traders and investors interested in shares of Nektar Therapeutics may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Nektar Therapeutics (NASDAQ:NKTR) has potential upside of 19.9% based on a current price of $13.76 and analysts' consensus price target of $16.50. The stock should hit resistance at its 50-day moving average (MA) of $13.80, as well as support at its 200-day MA of $13.14.

Nektar Therapeutics (Nektar) is a clinical-stage biopharmaceutical company developing a pipeline of drug candidates that utilize its PEGylation and polymer conjugate technology platforms, which are designed to improve the benefits of drugs for patients. Its product pipeline consists of drug candidates across a number of therapeutic areas, including oncology, pain, anti-infectives, anti-viral and immunology. Nektar's research and development activities involve small molecule drugs, peptides and other potential biologic drug candidates. Its drug candidates are designed to improve the pharmacokinetics, pharmacodynamics, half-life, bioavailability, metabolism or distribution of drugs and improve the overall benefits and use of a drug for the patient.

In the past 52 weeks, shares of Nektar Therapeutics have traded between a low of $9.16 and a high of $17.55 and are now at $13.76, which is 50% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 2.1%.

SmarTrend is monitoring the recent change of momentum in Nektar Therapeutics. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nektar Therapeutics in search of a potential trend change.

Keywords: bullish inside day candle nektar therapeutics

Ticker(s): NKTR