TNXP 1-Month Analysis
This is a NEWS stock. It lives and dies off of NEWS. Technical analysis ONLY will yield frustration. This stock must be invested in based on more than chart analysis. My personal reason for backing this one is two-fold. 1) They have NO debt. 2) They have a diverse PIPELINE that includes a COVID vaccine (1 and done...no every 4-month headache, no boosters...can you imagine?)
* - Initial drop due to negative (yet very subjective) early clinical trial results. Conducted simple clinical trial with placebo vs TNX-102 and based findings off of patients' self-evaluation of pain. Relying on the patients' pain scale is highly subjective. On top of that, they elected to see results too quick. Both of those factors combined can easily make for inaccuracies. This was not a strong enough news break to merit the kind of sell-off that took place. Previous clinical results were far more substantive and thorough. How quickly we forget.
** - Notice the change in volume since the drop. Yes, more shares are changing places because the price is lower and buying on the dip is popular, but this kind of sustainable increase in volume suggests institutional involvement. While the price is sitting down here (where it shouldn't be), Wall Street is loading up.
*** - The lowest TNXP went this year is .50. If this threshold breaks down, it will probably take a lot longer to get back to where it was.
**** - The highest TNXP reached this year was 2.11. From the bottom to the top is about a 300% difference. Analyst average PT is set at $3.25. From where we are now, that's a 500% increase. It is also a popular ROBINHOOD stock which means it has a backdoor possibility at a MOONSHOT. This clinical trial isn't over, they are not packing up and starting over.
* - Initial drop due to negative (yet very subjective) early clinical trial results. Conducted simple clinical trial with placebo vs TNX-102 and based findings off of patients' self-evaluation of pain. Relying on the patients' pain scale is highly subjective. On top of that, they elected to see results too quick. Both of those factors combined can easily make for inaccuracies. This was not a strong enough news break to merit the kind of sell-off that took place. Previous clinical results were far more substantive and thorough. How quickly we forget.
** - Notice the change in volume since the drop. Yes, more shares are changing places because the price is lower and buying on the dip is popular, but this kind of sustainable increase in volume suggests institutional involvement. While the price is sitting down here (where it shouldn't be), Wall Street is loading up.
*** - The lowest TNXP went this year is .50. If this threshold breaks down, it will probably take a lot longer to get back to where it was.
**** - The highest TNXP reached this year was 2.11. From the bottom to the top is about a 300% difference. Analyst average PT is set at $3.25. From where we are now, that's a 500% increase. It is also a popular ROBINHOOD stock which means it has a backdoor possibility at a MOONSHOT. This clinical trial isn't over, they are not packing up and starting over.
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