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