Bearish Chart Formation for Nymox Pharmaceutical Corporation (NYMX) After Forming Bearish Wedge Down Pattern

December 7, 2017 - By Marry Poplack

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

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