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2 years ago
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.
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.