Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
TNXP TA thoughts 7/29/15 - Update
From last few days, I have been watching this stock closely. As you may be aware, I let you know what my strategy would be in the hope that someone may benefit and can apply to their present trading skills. I was hoping for bulls to take over today, however, it hasn’t happened yet. Next two days are going to be crucial for this stock. Based on what I see, we could likely see bullish movements from here on.
For those, who missed my previous analysis for this stock, here is the link:
TNXP TA thoughts 7/24/15 - Update
General Updates:
a) The daily shows bullish to consolidation symptoms.
b) We have a new trend-line formation as we predicted in our hourly chart. I have entered a new position at bottom trend-line today. Hourly chart hasn’t made up its mind on whether to go bearish or consolidate or go bullish here. This is a normal behavior when stop drops more than 20% in few days.
c) Intraday chart – You would see a nice trendline showing how bears have been riding this stock down. The breach of trend line with pps dropping above upper trendline should be considered end of ‘bears’.
d) Weekly chart as I have said in the past, is still very bullish.
f) Immediate support points would be 7.8ish(very strong support) and 8.0ish (not so strong support). This we have already established in the past. Lower trendline could act as solid support.
g) Following would be immediate resistance area for this stock – 8.4ish, 8.7ish and 9.0ish.
h) Now the question is where this stock moves to from the current PPS.
Points favoring consolidation:
1) Let us rewind couple of weeks, and ask ourselves what made this stock go up from 7.5$ to 9.89$ in span of 2 weeks. The answer would be POC, Form 4 and seeking alpha articles…. With the offering, TNXP is ready to proceed with their next trails. Before the offering price, TNXP was trading around 8.2-8.5$ (consolidation zone ). Hence this could be treated as consolidation range.
2) Above point also highlights that this stock likes news update from TNXP team.
Points favoring bullish Movements:
1) This stocks likes to leave some footprints telling the possible future movements. One such footprint is formation of ‘patterns’. TNXP just love making and breaking patterns. I have drawn on hourly chart, a triangular pattern.
2) This stock is very impatient ( i.e volatile ). It just likes to move around. Considering we had a 20% drop, the chances that bears dominate here is slimmer.
3) There is big drop in selling pressure, as you may witnessed in last 2 days. This also would mean, the volume would be lower than last week, but 'significant'.
4) Anticipation of +ve trail results.
My views:
7.75 – 8.00 still remains nice loading zone in opinion. Basically I am looking to load near the lower trendline. Whenever PPS moves around 8.7$, I would be watching the action closely, and may opt to sell some shares.
Fundamental analysis, charts and my analysis favor consolidation to bullish movements (with bullish movements more likely in short term).
We saw lower trendline being tested multiple times, and trendline is still holding our PPS. I cannot say the stock can move 10% or 20% in next few days, but I hope this stock to be hovering around this pattern. Basically, I am play this stock according to charts at this stage. Any move below 7.75 would be bearish, so that would be my stop loss position.
There is ‘change of sentiment’ visible in the chart formed today. The change of sentiment would go through tight price zone (yesterday today and another couple of days), before big players can make this stock bullish. I would explain about this more on this in future.
Overall, i believe this stock is low risk/high reward at this time. Any news around this stock would make it climb to 9$.
Before signing off, I would like to repeat not to take my words for granted since I could be completely incorrect. Do your due diligence. Trade smart, and importantly learn from your past mistakes. Buy low and Sell high. In the coming days, I would slowly introduce other indicators I look for, to predict some movements.
Hourly chart
Will have to look, I am under the impression the latest float ( by taking out held shares by institutions and insiders ) stands at 5.4 million.
Also 92.75 held by tutes... Earnings seems to be taking some hit. Aug 6 is the ER date... I am just watching here
5.4 mil
And yes stock can consolidate here. But only thing i am almost certain is that, bears wouldn't bring the stock down for next few days ( unless there is some trigger fundamentally/news ). Now other reason why I think there will be some bullish movement ...
take any 5 days for this stock in daily chart - look for high and low price during the 5 day period. You would mostly be amazed with the price range in tune of .5 points - that means if low is 6$ , within 5 days stock has potential to touch 6.5$ . This stock cannot stay/consolidate at same price level. The chances of upward movement is higher because of the things I said previously as response for your observations.
I am not stating it will move , and if I say so I would be lying. However there is a higher chance for this stock to move up in next 5 days. If it doesn't - it doesn't :) let's hope that is not the case.
From TA, we have a solid green candle with tight open/close price range today. We also have few indicators showing trend reversal forming yday/today as I mentioned last week . I hope 7.75-7.9 to provide one big solid support. I see we tested that twice already. Buying of this stock has resumed yesterday, so the chances of bears reappearing after rally down is slim, assuming we see some bad news. The question I am asking here is - what has changed for this stock fundamentally from the offering period? The fundamentals remain the same. Yes, form 4 filings and SA articles did help to make this stock climb to 9.8.
I am hoping for this stock to go to 8.7ish range in coming days. I do not know how much time would it take. More time it takes to move to this range and test it, less are the chances to do so.. Because I expect the price movement to fall within a pattern ( compressed form - ascending/symmetrical triangle ) for which I see a higher possibility studying the chart.
I am not playing this stock at this moment , but studying the chart action. Have your SL at 7.7 just in case, but the chances of you needing that is very slim. Seeing good risk/reward ratio here. Also be aware that ER would come in 2-3 weeks - something you may have to keep in mind.
I plan to provide some update only when things go against what my opinions were based on or if there is some nice price action. So far things look good. Good luck.
And 7.8ish to provide support
TNXP Bears have stopped today. Seeing some positives on daily chart. Hourly chart is showing consolidation to bullish activity. Price indicators shouldn't be used to measure this chart IMHO. 8.7ish remains the area to watch. Breaking this IMHO will provide a big surge, else 8.7ish is profit taking zone. Do not know how quickly would the price rebound.
Chart coming later today
TNXP TA thoughts 7/24/15 - Update
I was hoping from my technical analysis, for this stock to test 10$ as I said in my previous posts. However, heavy trading in early morning ( of 7/22/15 ) made the stock climb to 9.89,thereby testing the upper BB and trend line too early and in too short time frame , and bears taking over. Resistance zones and trend lines were clearly marked in my charts to denote 9.8ish as nice resistance area, and for those who took profit at this area, congratulations.
No TA analysis can predict the exact entry and exit points, if someone tells you so, you know that they are underestimating the TA analysis. However TA analysis can predict some range ( like predicting weather pattern ). As you know this stock is on down trend currently ( from last 2 days ), and I am going to list few observations. As I have repeatedly mentioned in the past, this stock is on radar of day traders, and therefore, volatility should be expected.
For those, who missed my previous analysis for this stock, here is the link:
TNXP TA thoughts old
General Updates:
a) The daily chart still show bearish to consolidation symptoms
b) Intraday chart – You would see a nice trendline showing how bears have been riding this stock down. The breach of trend line with pps dropping above upper trendline should be considered end of ‘bears’.
c) Weekly chart as I have said in the past, is still very bullish.
d) 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.
e) Intraday chart will be the first chart to show that selling has stopped for this stock. However, we may see bulls take over in a day or two (which I will explain below on why I think so).
f) Immediate support points would be 7.8ish(very strong support) and 8.0ish (not so strong support).
g) Following would be immediate resistance area for this stock – 8.4ish, 8.7ish and 9.0ish.
h) Intraday chart had a trend line breach today, with PPS breaking the upper trendline (lines marked by ‘A’), and forming a secondary trendline (lines marked by ‘B’). This signifies selling pressure is wearing off.
i) Importantly, I would like you to see how daily candles (as marked) are placed in daily chart for last 3 days. When bears took over on Wednesday, what we saw was opening and closing price follow Fibonacci retracement values. Currently we are at 23.6% zone, from recent high of 10.72 ( June 22 ). And when bounce according to Fib zone happens, this stock will have greater tendency to form pattern(s). A pattern for example could look like below, with each drop and high formed near fib zones. This stock had shown this tendency in past ( Jan – May 2015 ).
This is what I would be focusing on – watching for new pattern formation – in next coming days. Make no mistake here, any positive news can make the stock break any patterns.
My opinion:
Although this was a nice show from bears bringing the PPS all the way from 9.89 to 8.14 ( today’s close price ), bears will not last for long. Keeping in view some of these indicators ( which still shows bearish ) are dominating the game, and considering the fact that price is within secondary trend line, 7.75 – 8.15 could be a nice loading zone in opinion. The range is bigger because volatility is higher for this stock. Another thing to think about it is fundamentally nothing has changed for this company in last 2 weeks, and will protray bullish symptoms on long term.
Before signing off, I would like to repeat not to take my words for granted since I could be completely incorrect. Do your due diligence. Trade smart, and importantly learn from your past mistakes. Buy low and Sell high.
Daily Chart
5 min chart
TNXP TA thoughts 7/24/15 - Update
I was hoping from my technical analysis, for this stock to test 10$ as I said in my previous posts. However, heavy trading in early morning ( of 7/22/15 ) made the stock climb to 9.89,thereby testing the upper BB and trend line too early and in too short time frame , and bears taking over. Resistance zones and trend lines were clearly marked in my charts to denote 9.8ish as nice resistance area, and for those who took profit at this area, congratulations.
No TA analysis can predict the exact entry and exit points, if someone tells you so, you know that they are underestimating the TA analysis. However TA analysis can predict some range ( like predicting weather pattern ). As you know this stock is on down trend currently ( from last 2 days ), and I am going to list few observations. As I have repeatedly mentioned in the past, this stock is on radar of day traders, and therefore, volatility should be expected.
For those, who missed my previous analysis for this stock, here is the link:
TNXP TA thoughts 7/22/15 - Update
General Updates:
a) The daily chart still show bearish to consolidation symptoms
b) Intraday chart – You would see a nice trendline showing how bears have been riding this stock down. The breach of trend line with pps dropping above upper trendline should be considered end of ‘bears’.
c) Weekly chart as I have said in the past, is still very bullish.
d) 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.
e) Intraday chart will be the first chart to show that selling has stopped for this stock. However, we may see bulls take over in a day or two (which I will explain below on why I think so).
f) Immediate support points would be 7.8ish(very strong support) and 8.0ish (not so strong support).
g) Following would be immediate resistance area for this stock – 8.4ish, 8.7ish and 9.0ish.
h) Intraday chart had a trend line breach today, with PPS breaking the upper trendline (lines marked by ‘A’), and forming a secondary trendline (lines marked by ‘B’). This signifies selling pressure is wearing off.
i) Importantly, I would like you to see how daily candles (as marked) are placed in daily chart for last 3 days. When bears took over on Wednesday, what we saw was opening and closing price follow Fibonacci retracement values. Currently we are at 23.6% zone, from recent high of 10.72 ( June 22 ). And when bounce according to Fib zone happens, this stock will have greater tendency to form pattern(s). A pattern for example could look like below, with each drop and high formed near fib zones. This stock had shown this tendency in past ( Jan – May 2015 ).
This is what I would be focusing on – watching for new pattern formation – in next coming days. Make no mistake here, any positive news can make the stock break any patterns.
My opinion:
Although this was a nice show from bears bringing the PPS all the way from 9.89 to 8.14 ( today’s close price ), bears will not last for long. Keeping in view some of these indicators ( which still shows bearish ) are dominating the game, and considering the fact that price is within secondary trend line, 7.75 – 8.15 could be a nice loading zone in opinion. The range is bigger because volatility is higher for this stock. Another thing to think about it is fundamentally nothing has changed for this company in last 2 weeks, and will protray bullish symptoms on long term.
Before signing off, I would like to repeat not to take my words for granted since I could be completely incorrect. Do your due diligence. Trade smart, and importantly learn from your past mistakes. Buy low and Sell high.
Daily Chart
5 min chart
Alright folks, have a nice weekend
My guess is we could see price below 8$, may enter once bearish trendline is broken on intraday
Very possible.
Picked up few shares of AMDA AH and sold them at premarket for 15%.
AMDA news
Just saw this :)
ITEK - all I can say is wow
TPIV thoughts on entry?
TNXP still holding - bounced at lower trendline - watch for gap up - have tendency to do so when a red candle is formed . Daily chart has room to run nicely. Low volume today , my guess is that it would close above 9.25$. If it doesn't I am exiting TNXP. Let's see how this goes here.
9.8ish is also resistance zone. It was upper limit on the trendline chart I posted
My opinion would be to watch the trendline rather than going for a target here. I have SL kept around 9$
I added a small position
TNXP 10$ on cards today
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 ( from bearish to bullish ) 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
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
TNXP trendline breach - testing 9.3ish resistance zone.
Hit the upper trendline - would be interested to see what happens here. 9.33 is resistance zone on the chart I posted couple of days back. 9.31 is the upper trendline.
My goodness TNXP on fire
TNXP 2 seeking alpha articles out few min back - that brought volume
Are you still holding your full position on this? As long as 5 min trendline is not broken I plan to hold - 9.25-9.35 is the next major resistance zone. I guess this time we will see good pps before it retraces
TNXP big buys coming
Yes. Cannot predict the hold time, but it is probable for this stock reach nearby with Nasdaq uplifting or some positive news in coming weeks
Cannot say - but I hope it to align with fundamentals here and get a bullish breakout. Might happen before end of this month.
SNGX forming symmetrical triangle pattern - watchout. Price at lower trendline. Watching for breakout.
Didn't see form4 coming 10 min before close. Lol.
That was me, lol.
TNXP TA thoughts 7/17/15 - Update
Since there is a significant movement today, I thought I would provide a quick update. As I have said yesterday, this stock is on radar of lots of traders, and therefore, volatility should be expected. TNXP closed very strong today with ‘form 4’ news.
For those, who missed my analysis from yesterday, here is the link:
TNXP TA thoughts 7/16/15
General Updates:
a) The bulls continue to dominate on 30 minutes and hourly chart.
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) Daily chart looks better than yesterday, and with continuation of bulls over next few days, we can expect the trend change indicators to confirm the same. Daily chart has got room to run more.
d) Immediate resistance points would be 8.75-8.85 area followed by 9.32. There are also some hidden resistances in between these price ranges..
e) Following would be a nice support area for this stock – 8.2 – 8.55.
Today, instead of posting daily or hourly chart, I would like to post 5 min chart. TNXP also have history of following steep trend-lines for hours/few days. Last month we saw similar trend-line when it rallied from 7ish to 9ish. History also shows that this pattern is not new for this stock. This trend-line is what I would be focusing on to sell my shares if I want to shorten my position, together with analyzing support/resistance points. Make no mistake here, TNXP is going through chart correction process.
TNXP TA thoughts 7/17/15 - Update
Since there is a significant movement today, I thought I would provide a quick update. As I have said yesterday, this stock is on radar of lots of traders, and therefore, volatility should be expected. TNXP closed very strong today with ‘form 4’ news.
For those, who missed my analysis from yesterday, here is the link:
TNXP TA thoughts 7/16/15
General Updates:
a) The bulls continue to dominate on 30 minutes and hourly chart.
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) Daily chart looks better than yesterday, and with continuation of bulls over next few days, we can expect the trend change indicators to confirm the same. Daily chart has got room to run more.
d) Immediate resistance points would be 8.75-8.85 area followed by 9.32. There are also some hidden resistances in between these price ranges..
e) Following would be a nice support area for this stock – 8.2 – 8.55.
Today, instead of posting daily or hourly chart, I would like to post 5 min chart. TNXP also have history of following steep trend-lines for hours/few days. Last month we saw similar trend-line when it rallied from 7ish to 9ish. History also shows that this pattern is not new for this stock. This trend-line is what I would be focusing on to sell my shares if I want to shorten my position, together with analyzing support/resistance points. Make no mistake here, TNXP is going through chart correction process.
TNXP that was cool!!!!