-
Limit5BassAugust 28, 2018 at 9:56 pm #32255
The charts for Nektar Therapeutics are looking rather bullish after the pullback and attempted rebound. The 3 year weekly candlestick chart makes the bullish assumption that the first uptrend and just completed pullback are Waves 1 and 2 in a larger scale Bullish Impulse Wave Pattern. If that is the case, which the charts are indicating at the moment, the target for the end of the Bullish Impulse Wave Pattern (Wave 5) is around the $205 price level. That would be a nice triple from current prices.
The 2 year daily candlestick chart shows that NKTR is at the bottom of a resistance area attempting to break back through. Any failed attempts to break through the resistance will result in a pullback. Pullbacks from failed attempts should see support in the $50 – $55 price range.
NKTR’s share price consolidated around the 61.8% Target Line on the 2 year daily chart. Most Wave 2’s typically retrace either 61.8% or close to 100%.
So what does all this mean? If NKTR is truly forming a Wave 3 right now in a larger scale pattern, I would anticipate its share price breaking through the Falling Window candlestick pattern’s resistance area during this uptrend. That resistance area would then turn into support on any subsequent pullbacks.
NKTR – Nektar Therapeutics
© 2011 - 2025 · TrendyStockCharts.com