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Possible Bearish Inside Day Candle Pattern Detected for Tg Therapeutics (NASDAQ:TGTX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tg Therapeutics (NASDAQ:TGTX) based on the price action in the company's shares. Today's price range of $7.99 and $7.99 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 Tg Therapeutics may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Tg Therapeutics has overhead space with shares priced $7.99, or 71.5% below the average consensus analyst price target of $28.00. The stock should find initial support at its 200-day moving average (MA) of $7.27 and further support at its 50-day MA of $6.84.

TG Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the acquisition, development, and commercialization of innovative pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is developing two therapies targeting hematological malignancies, specifically, relapsed, and refractory non-Hodgkins lymphoma.

Tg Therapeutics share prices have moved between a 52-week high of $16.00 and a 52-week low of $3.32 and are now trading 141% above that low price at $7.99 per share. The 200-day and 50-day moving averages have moved 0.73% lower and 2.37% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Tg Therapeutics on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.84. Since that recommendation, shares of Tg Therapeutics have risen 68.6%. We continue to monitor TGTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle tg therapeutics

Ticker(s): TGTX