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Published: 6 months ago
Author: BullishCharts

Tyme Technologies Inc, High Risk – High Reward | $TYME

Like all Biotechnology companies, Tyme Technologies (NASDAQ: TYME) carries considerable risk as major moves can make or break a portfolio on the release of data at any moment. TYME is currently involves in a clinical program called SM-88, which is in development to target Cancer cell’s protein synthesis. The company is headquartered in New York since its inception in 2011; after formation by founders Steve Hoffman and Michael Dermurjian.

Fundamentals to consider before making a move into the stock is that it carries a 13.85% short interest, which could help fuel a nice rally. The collective analyst community has a buy rating on the stock and a $8.50 price target.  Given that TYME has a market cap of only $111 million, this is a very speculative trade and popular among the day trading community which can led to high volatility.

Let’s have a Look at the Charts for Some Guidance on Future Movement for TYME:

Tyme Chart 1

Firstly, the Daily Chart is making Bullish Moves to Start 2020:

  • Stock has moved above the major moving averages.
  • Has made higher lows and higher highs to reverse the downtrend.
  • Currently above mid channel support and breaking through Fibonacci channel resistance.
  • Volume has spiked.
  • Quite possible that the top of the channel is the next target before resistance.

Tyme Chart 3

The Daily Indicators are also Bullish:

  • RSI rising but still room to run higher.
  • MACD bullish cross above zero line complete.
  • Momentum in strong uptrend.
  • OBV indicating bullish dominance.
  • Histogram ticking higher and bullish as it remains above zero line.

Tyme Chart 2

On the Weekly Chart, we can see Areas to be Considered as Support and Resistance.

Most importantly, TYME’s Price is crossing above the 50-Day Moving Average.

Targets to consider:

Short term          $1.84  – Top of channel

Medium Term    $2.00 – Weekly horizontal resistance

Longer term       $3.20  – Fibonacci extension target

Entry Point:

A break above the $1.50 level and mid channel support could provide a nice entry point.

Click Here to View TYME’s Interactive Chart on TradingView

 

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