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

By Amy Schwartz

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 $9.89 and $10.52 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.

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.

There is potential upside of 177.0% for shares of Tg Therapeutics based on a current price of $10.11 and an average consensus analyst price target of $28.00. Tg Therapeutics shares have support at the 200-day moving average (MA) of $7.17 and additional support at the 50-day MA of $7.05.

In the past 52 weeks, shares of Tg Therapeutics have traded between a low of $3.32 and a high of $10.62 and closed yesterday at $10.11, which is 205% above that low price. The 200-day and 50-day moving averages have moved 1.12% higher and 3.87% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Tg Therapeutics on October 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.41. Since that recommendation, shares of Tg Therapeutics have risen 57.6%. We continue to monitor TGTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle tg therapeutics

Ticker(s): TGTX