Is Selling Nymox Pharmaceutical Corporation (NYMX) Here a Winning Strategy? The Stock Formed Wedge Down

The stock of Nymox Pharmaceutical Corporation (NYMX) formed a down wedge with $1.58 target or 7.00 % below today’s $1.70 share price. The 7 months wedge indicates high risk for the $115.05M company. If the $1.58 price target is reached, the company will be worth $8.05M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.73% or $0.03 during the last trading session, reaching $1.7. About 36,722 shares traded. Nymox Pharmaceutical Corporation (NASDAQ:NYMX) has declined 37.27% since May 8, 2018 and is downtrending. It has underperformed by 41.64% the S&P500.

More notable recent Nymox Pharmaceutical Corporation (NASDAQ:NYMX) news were published by: Globenewswire.com which released: “Nymox to Host Investor Teleconference Nasdaq:NYMX – GlobeNewswire” on March 11, 2019, also Stocks.org with their article: “Did Amazon Inc (NASDAQ:AMZN) and Walt Disney Co (NYSE:DIS) Reach A Resolution? – Stocks.org” published on October 01, 2014, Stocks.org published: “Sprint Corporation’s (NYSE:S) Position in Regards to Other Mobile Carrier Giants – Stocks.org” on April 03, 2015. More interesting news about Nymox Pharmaceutical Corporation (NASDAQ:NYMX) were released by: Stocks.org and their article: “AcquisitionExpected of BioMarin Pharmaceuticals Inc. (NASDAQ:BMRN) By Shire plc(NASDAQ:SHPG) – Stocks.org” published on March 28, 2015 as well as Globenewswire.com‘s news article titled: “Nymox Announces $16.25 Million Equity Financing With Qualified Long-Term Investors – GlobeNewswire” with publication date: April 12, 2018.

Nymox Pharmaceutical Corporation, a biopharmaceutical company, engages in the research and development of drugs for the aging population. The company has market cap of $115.05 million. It markets NicAlert and TobacAlert test strips that use urine or saliva to detect use of tobacco products. It currently has negative earnings. The firm also offers AlzheimAlert, a proprietary urine assay that aids physicians in the diagnosis of AlzheimerÂ’s disease.

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