Tonix Pharmaceuticals Holding Corp (TNXP)

[blackdeath]

TNXP TA thoughts 7/21/15 - Update

Since there is a significant movement today, here is a quick update. As I have said previously, this stock is getting attention from significant traders, and therefore, volatility should be expected. TNXP closed very strong today with ‘seeking alpha’ articles.

http://seekingalpha.com/article/3339185-tonix-its-blockbuster-headache-remedy-two-2015-catalysts-and-two-post-offering-valuations

http://seekingalpha.com/article/3338995-insider-buying-in-tonix-should-investors-follow-suit

For those, who missed my previous analysis for this stock, here is the link:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115498860

General Updates:
a) The bulls continue to dominate on 30 minutes and hourly chart. Daily chart confirms trend reversal in progress. Few indicators for daily chart support this.

b) This stock likes being in overbought/oversold levels for extended time as we have noted from past. I am not much worried looking at these indicators at this point.

c) Intraday chart is of prominence for this stock, to identify buy and sell points. What we saw today is a new trend line formation, when price broke 9.32 levels. I have drawn the new trend lines ( in black in 5 min chart ) below. We do not know how long this trend line would continue, but TNXP is known for steep trend lines running into days.

d) Immediate support points would be 8.75-8.85 area,9.35-9.45 and lower trend line.

e) Following would be a nice resistance area for this stock – 9.8ish zone.

f) The daily chart has got more room to run without consolidation, I am hoping this to go above 10$ in coming days, and 12$+ in few weeks/months. If there is pullback, we could expect to see the pullback within trend line. The breach of trend line with pps dropping below lower trendline should be considered bearish. In my opinion, we are few days ahead of this scenario.

I continue to buy/sell TNXP following the trend lines and other indicators. My analysis shouldn't be taken as is, since i could be completely wrong.Trade smart, buy low and sell high. Do your due diligence.

Posting 5 min chart and daily chart today.






Thanks
blackdeath