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89bio's 15-min chart shows KDJ Death Cross, Bearish Marubozu.
ByAinvest
Tuesday, Jun 24, 2025 2:35 pm ET1min read
According to the 15-minute chart of 89bio, the KDJ Death Cross and Bearish Marubozu indicators triggered on June 24, 2025 at 14:30, indicating a shift in momentum towards a downtrend. This suggests that the stock price has the potential to decline further, and the sellers are in control of the market. Furthermore, this bearish momentum is likely to continue.
On June 24, 2025, at 14:30, the 15-minute chart of 89bio triggered both the KDJ Death Cross and Bearish Marubozu indicators, signaling a significant shift in momentum towards a downtrend. These indicators suggest that the stock price is likely to decline further, with sellers currently controlling the market. This bearish momentum is expected to persist, potentially leading to a prolonged downward trend for the stock.The KDJ Death Cross, a technical indicator used in the Japanese candlestick charting method, occurs when the Kijun Sen (fast line) crosses below the Tenkan Sen (slow line) on the chart, indicating a potential change in the trend. The Bearish Marubozu, another technical indicator, is characterized by a long white candle with no shadows, suggesting a strong selling pressure and a potential reversal in the trend.
This development comes at a time when the biotech sector, particularly companies focused on liver diseases, has been experiencing volatility. In recent months, Madrigal Pharmaceuticals (MDGL) and other competitors have seen fluctuations in their stock prices due to various factors, including FDA approvals and clinical trial results [1, 2].
Investors should closely monitor the market for any signs of recovery or changes in the trend. The current bearish momentum in 89bio suggests that the stock may face further challenges in the near term. However, it is essential to note that technical indicators should be used in conjunction with fundamental analysis to make informed investment decisions.
References:
[1] https://www.marketwatch.com/investing/stock/mdgl
[2] https://www.investors.com/investing/stock/mdgl
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