Will Nymox Pharmaceutical Corporation (NYMX) Short Squeeze Soon? The Stock Formed a Wedge Down Chart Pattern

December 7, 2017 - By Nellie Frank

The stock of Nymox Pharmaceutical Corporation (NYMX) formed a down wedge with $3.21 target or 6.00 % below today’s $3.41 share price. The 9 months wedge indicates high risk for the $186.98 million company. If the $3.21 price target is reached, the company will be worth $11.22 million 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 3.94% or $0.14 during the last trading session, reaching $3.41. About 122,819 shares traded or 45.34% up from the average. Nymox Pharmaceutical Corporation (NASDAQ:NYMX) has risen 67.11% since December 8, 2016 and is uptrending. It has outperformed by 50.41% the S&P500.

More notable recent Nymox Pharmaceutical Corporation (NASDAQ:NYMX) news were published by: Seekingalpha.com which released: “Nymox: This Offshore ‘Biotech’ Promotion Will Go To Zero (Yes, Zero)” on August 10, 2016, also Globenewswire.com with their article: “Class Action Lawsuit Filed Against Nymox Pharmaceutical Corporation and Paul …” published on November 25, 2014, Prnewswire.com published: “Nymox Pharmaceutical Corporation Investigated For Securities Fraud By Block …” on August 11, 2016. More interesting news about Nymox Pharmaceutical Corporation (NASDAQ:NYMX) were released by: Globenewswire.com and their article: “NYMOX Files For Marketing Approval For Fexapotide Triflutate in Europe” published on May 03, 2017 as well as Marketwatch.com‘s news article titled: “Nymox Pharmaceutical Corp.” with publication date: February 06, 2011.

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