Does This Provide a Reason to Sell Nymox Pharmaceutical Corporation (NYMX)? The Stock Has Formed 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 Pharmaceutical: Is A Lack Of Financial Information On Its Website A Concern?” on November 09, 2016, also Prnewswire.com with their article: “Nymox Pharmaceutical Corporation Investigated For Securities Fraud By Block …” published on August 11, 2016, Globenewswire.com published: “Class Action Lawsuit Filed Against Nymox Pharmaceutical Corporation and Paul …” on November 25, 2014. More interesting news about Nymox Pharmaceutical Corporation (NASDAQ:NYMX) were released by: Seekingalpha.com and their article: “Nymox: This Offshore ‘Biotech’ Promotion Will Go To Zero (Yes, Zero)” published on August 10, 2016 as well as Marketwatch.com‘s news article titled: “Nymox Pharmaceutical Corp.” with publication date: February 06, 2011.

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