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

By Nick Russo

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. Yesterday's price range of $10.04 and $10.59 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 Tg Therapeutics may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 184.8% exists for Tg Therapeutics, based on a current level of $9.83 and analysts' average consensus price target of $28.00. The stock should hit resistance at its 50-day moving average (MA) of $12.83, as well as support at its 200-day MA of $8.78.

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.

Over the past year, Tg Therapeutics has traded in a range of $4.95 to $16.22 and closed yesterday at $9.83, 99% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has risen 0.6%.

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

Keywords: bearish am inside day candle tg therapeutics

Ticker(s): TGTX