TG Therapeutics (NASDAQ: TGTX)

TG Therapeutics, Inc., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases primarily in the United States.

Take a look at the 1-year chart of TG (NASDAQ: TGTX) below with the added notations:

During the past year, TGTX has created two key price levels to watch. Both the $13 (green) and $15 (red) levels have provided repeated resistance for the stock. Now that the stock is declining again, $13 should act as support, but if it breaks above $15 instead, higher prices should follow.

The Tale of the Tape: TGTX has key levels at $13 and $15. A trader could enter a long position on a pullback down to $13, or on a break above $15, with a stop placed under the level. A break below $13 could provide an opportunity to get short.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT