Below is an analysis of the stock price action for Tonix Pharmaceuticals (TNXP), SIGA Technologies (SIGA). You can find a recap table at the end of the page. The content on this page is not financial advice, but is for educational purposes only and merely cites our own personal opinions. You can find the full disclaimer here.
Tonix Pharmaceuticals (TNXP)
TNXP had been in a bit of a down trend and hard sell off via the daily, but gapped up on patent news today. It made a strong climb premarket leading to a strong open. A wedge breakout over the 3.60 sent the stock on a huge move up to 4.79. It then made a retracement afterwards. It tried consolidating near the 4.25 level but volume & RSI were decreasing so a further retracement was likely. It ultimately faded the rest of day, with few stops, as volume decreased. It then found consolidation at the 3.05 level from premarket. This would need a big move over 3.75 for really any consideration of another upside move. A further retracement to the 2.5 level is looking likely.
SIGA Technologies (SIGA)
SIGA made a bit of a continuation play off of last week's momentum. It had a pullback on smaller volume yesterday, with another move to the upside today on larger volume. It currently is breaking out over the 12.5/13.0 range from yesterday. It will strong momentum tomorrow for a continued move. A break of 14 might lead to an upside move while a break down past 12 might lead to retracement.
Recap
| TNXP | SIGA |
|---|---|
| Shares: 10-25milIndustry: BiotechnologyCatalyst: Positive Company NewsATR: 0.50 - 1.00Time Frame: 1 MinuteResistance: 4.25Resistance: 3.7Support: 3.05Support: 2.6 | Shares: 50-100milIndustry: PharmaceuticalsCatalyst: ContinuationATR: 1.00 - 3.00Time Frame: DailyResistance: 14Resistance: 13.45Resistance: 12.5Support: 11.75 |