TG Therapeutics' stock is not likely to increase significantly today. Here's the analysis to support this conclusion:
- Short-term Trend Forecast: The short-term trend forecast for TG Therapeutics (TGTX) is bearish, indicating that the stock is currently trending downwards, which would likely continue in the short term1.
- Recent Performance: The stock has experienced a significant decline, with a 52-week range of $6.46 to $25.29, and a current trading price of $24.18. This suggests that the stock has already been through a period of upward movement and is currently consolidating or correcting2.
- Market Sentiment: The overall sentiment for TG Therapeutics is positive, with a recent surge in stock price and a solid financial performance. However, this does not necessarily indicate an immediate upward movement in the stock price34.
- Technical Indicators: The stock's Relative Strength Index (RSI) is at 80.04, which is considered overbought and suggests that the stock may be due for a correction downwards5.
- Resistance and Support Levels: The stock is trading near its resistance level of $25.18, which could indicate a lack of positive momentum and a potential for a pullback6.
- Analyst Ratings: The stock has a strong IBD Digital Relative Strength Rating of 96 and a matching Composite Rating, which suggests that the stock is highly rated by analysts. However, this does not necessarily indicate an immediate upward movement in the stock price3.
In conclusion, while TG Therapeutics has a strong overall rating and has recently shown positive financial results, the bearish short-term trend forecast, overbought technical indicators, and the proximity to resistance levels suggest that the stock is not likely to experience a significant upward movement today.