Tg Therapeutics's 15-minute chart has triggered a KDJ Death Cross and a Bearish Marubozu pattern, which indicates a shift in the momentum of the stock price towards a downward trend. This suggests that the stock is likely to continue its decline and that sellers are currently in control of the market.
Tg Therapeutics (TGTX) has recently experienced significant bearish signals on its 15-minute chart, as indicated by a KDJ Death Cross and a Bearish Marubozu pattern. These technical indicators suggest a shift in the stock's momentum towards a downward trend, with sellers currently dominating the market. Investors should exercise caution as the stock is likely to continue its decline.
The KDJ Death Cross occurs when the K-line crosses below the J-line on the KDJ indicator, signaling a potential trend reversal [1]. The Bearish Marubozu pattern, characterized by a single candle with no upper or lower wick, indicates that the stock has been trading within a narrow range, with sellers dominating the market [1]. These patterns are not isolated incidents; similar bearish signals have been observed in other stocks such as Univest Financial (UNV) and Telix [2][3].
In addition to the technical indicators, Tg Therapeutics recently reported its second-quarter earnings, which were mixed. The company reported earnings of 17 cents per share, substantially missing the Zacks Consensus Estimate of 32 cents. Revenues in the second quarter totaled $141.1 million, up almost 92% year over year, driven by the strong demand for the company’s sole marketed drug, Briumvi (ublituximab-xiiy) [4].
The recent technical analysis and earnings report suggest that investors should be cautious about Tg Therapeutics stock. The bearish momentum indicated by the MACD Death Cross, KDJ Death Cross, and Bearish Marubozu pattern, along with the mixed earnings announcement, may signal further potential declines in the stock price.
References:
[1] https://www.ainvest.com/news/univest-financial-15min-chart-exhibits-kdj-death-cross-bearish-marubozu-pattern-2508/
[2] https://www.ainvest.com/news/eagle-financial-15min-chart-triggers-kdj-death-cross-bearish-marubozu-signal-2507/
[3] https://www.ainvest.com/news/telix-15min-chart-triggers-kdj-death-cross-bearish-marubozu-pattern-2507/
[4] https://www.barchart.com/story/news/33894778/tgtx-down-as-q2-earnings-miss-mark-briumvi-sales-drive-top-line
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