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Possible Bearish Inside Day Candle Pattern Detected for Nantkwest Inc (NASDAQ:NK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nantkwest Inc (NASDAQ:NK) based on the price action in the company's shares. Yesterday's price range of $3.09 and $3.35 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 Nantkwest Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nantkwest Inc has overhead space with shares priced $3.15, or 10.0% below the average consensus analyst price target of $3.50. The stock should hit resistance at its 50-day moving average (MA) of $5.23, as well as support at its 200-day MA of $2.53.

In the past 52 weeks, shares of Nantkwest Inc have traded between a low of $0.95 and a high of $9.90 and closed yesterday at $3.15, which is 232% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.2% while the 200-day MA has risen 2.0%.

NantKwest, Inc. operates as a clinical-stage immunotherapy company. The Company develops and commercializes a product pipeline for the treatment of cancers, infectious, and inflammatory diseases. NantKwest markets its products in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Nantkwest Inc on February 25th, 2020 by issuing a Downtrend alert when the shares were trading at $5.09. Since that call, shares of Nantkwest Inc have fallen 38.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle nantkwest inc

Ticker(s): NK