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

By Nick Russo

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 $14.98 and $15.13 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.

There is potential upside of 9.2% for shares of Nektar Therapeutics based on a current price of $15.11 and an average consensus analyst price target of $16.50. The stock should find initial support at its 50-day moving average (MA) of $13.80 and further support at its 200-day MA of $13.14.

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 $15.11, which is 65% above that low price. The 200-day and 50-day moving averages have moved 0.35% higher and 2.07% higher over the past week, respectively.

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.

SmarTrend is tracking the current trend status for Nektar Therapeutics and will alert subscribers who have NKTR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle nektar therapeutics

Ticker(s): NKTR