Terns Pharmaceuticals Inc

TERN is in a clear Stage 2 advancing regime with a dominant higher highs & higher lows pattern and rising EMAs, but price is currently extended above structure and extreme overbought—medium-term bias remains bullish, yet short-term timing is neutral; wait for a pullback into the rising EMA zone before initiating longs.

• ↑Merck’s $6.7B all-cash deal at $53.00/share reflects strong premium
• ↑Deal closed May 5, 2026, minimizing acquisition uncertainty
• ↓Post-acquisition delisting halts TERN trading, stripping liquidity