Tonix Pharmaceuticals Holding Corp (TNXP)

[blackdeath]

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.