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      Published: 2 years 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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