Tonix Pharmaceuticals Holding Corp (TNXP)

[blackdeath]

TNXP TA thoughts 7/16/2015
For those of you interested in TA, I thought I would take some time to post my findings, considering the potential for this stock to gap up in next coming days. With the public offering closing on 7/17/2015 combined with the fact that PPS is steadily climbing from offer price, this stock is on radar of many short term and long term investors alike.
a) On 30 min/1 hour chart, we are starting to witness trend change (supporting Bulls). Many indicators confirm this change today.
b) The daily chart is showing bearish symptoms, but considering the offering made by TNXP, this statement shouldn’t come as surprise. Bullish shorter time frame chart ( like 30 min/1 hr ) is expected to reverse some of the indicators on daily chart ( to bullish ) in next few days.
c) Looking at RSI levels ,some may consider the stock to be overbought in shorter time frames and therefore expect pull back to happen. Considering the daily chart to be close to oversold levels, this stock can gap up faster to higher pps if it wants, and consolidate later. RSI indicator for this stock would be of little importance, given this stock's past performance.(RSI had gone down to '2' on 10/16/14, '93' on 1/13/14. Also noting bigger time periods where RSI stayed below 25 or above 80 ).
d) 7.8ish area would act as our strong support area.
e) 8.2 – 8.5 have tons of resistances, MA50 lines, Fib lines etc. 8.8ish and 9.3ish form the next resistance zones.
f) The big fluctuation on prices should be expected for this stock, and should be considered normal.
g) With that said, the most important observation that cannot be ignored is that the chart matches the fundamental aspects of this stock, and appears to be bullish short or long term.




I can be completely wrong here.
Always have a plan, trade smart, and good luck.