Tonix Pharma Technical Analysis (NASDAQ:TNXP)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the Tonix Pharma stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the TNXP stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Tonix Pharma. Technical analysis uses an approach for Tonix Pharma stock analysis that does not care for the fair value of a company but uses price and volume data only.
Tonix Pharma Moving Average
Moving averages show the average price of TNXP stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The 20 day moving average of $0.99 is above the last closing price of $0.62 and the 50 day moving average of $1.89 is above the last closing price of $0.62. The 10 and 20 day periods can predict short term moving average trends.
Tonix Pharma Bollinger Bands
Bollinger bands comprise of a center line usually TNXP SMA, and two TNXP stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Currently the stock price of $0.62 is in the lower range of Tonix Pharma bollinger bands.
Tonix Pharma Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The Tonix Pharma MACD indicator can be used to identify bullish and bearish trends for the stock.
Tonix Pharma Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. If the RSI of TNXP stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.