Nektar Therapeutics (NKTR): Bearish!

SUMMARY

I don't usually analyze biotechs but per request, here is the analysis for Nektar Therapeutics (NKTR). What stands out in the weekly chart of NKTR is a fractal separated by four years as shown by the blue and white boxes. Note how price went vertical on the blue box and the same vertical trajectory is seen in the white box. What happened to the price after the top was in for the blue fractal? I believe the analogous inex is pretty high between the fractals.

I've now added the projection to the white fractal. The main difference to the blue is that it's bigger and wider. The white arrow outlines an ABC correction the blue subwaves of C show the decline towards around $26 or so. The MACD in the blue fractal pretty much collapsed and the same is likely to occur in the white. Overall, bearish on NKTR.

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