Theriva Biologics Inc (TOVX)

[TOB]

Yep, that is the question if one is doing any swing trading or scalping on SYN

My bet here is more continuation, Bull Flag style like the previous consolidation with another test of the low at 2.40 Then a third leg up to continue the rally. (However, that 2.40 low may be 'too-low' being a reaction to the high volume and the way it was reversed)

That is what happened after the last rally, the second day was the low, which was retested 4, and then 12 trading days later. A very nice Bull-Flag set-up with good little dips to buy.

I figure another leg-up is more likely than not because the last 4 day rally was such exceptional volume, and the Bull Flag so far has been back to the lower consolidation volume we saw after the last rally.

But a full pull-back to test support at 2.04 would surprise me, a next leg-up without a retest of 2.40 would be less of a surprise.

This is strictly chart based, others more knowledgeable have noted a near term and a mid term catalyst that gives the fundamental why to the move up and why it is interesting to hold SYN. Generally, if a big rally, those who buy and hold dips on the way up will do much better than those who trade and scalp.

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