Why Tyme Technologies, Inc. (TYME) Is An Unattractive Stock Today

Tyme Technologies, Inc. (NASDAQ:TYME) is a stock to watch today. At current price of $1, the shares have already lost -0.04 points (-3.37% lower) from its previous close of $1.04. The stock sets an active trading volume day with a reported 137965 contracts so far this session. TYME shares had a relatively better volume day versus average trading capacity of 355.2 thousand shares, but with a 40.46 million float and a -6.31% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TYME stock indicates that the average analyst price target is $8.5 per share. This means the stock has a potential increase of 750% from where the TYME share price has been trading recently which is between $1.02 and $1.14.

The shorts are running away from Tyme Technologies, Inc. (TYME) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a drop in short interest in TYME shares. While short interest still represents only 18.86% of TYME’s float, the number of shares shorted have fallen by -16961. The number of shares shorted fell to 7612630 shares, down from 7629591 shares during the preceding fortnight. With average daily trading volumes at 292829 shares, days to cover decreased to about 27.99644 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “TYME Announces Abstract Selected for Presentation at the European Society for Medical Oncology 21st World Congress on Gastrointestinal Cancer 2019” and dated June 07, 2019.

During the recent trading session for Tyme Technologies, Inc. (NASDAQ:TYME), the company witnessed their stock drop by $-0.01 over a week and tumble down $-0.49 from the price 20 days ago. When compared to their established 52-week high of $4.64, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/13/18. The recent low of $0.99 stood for a -78.35% since 06/05/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.32 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Tyme Technologies, Inc., the two-week RSI stands at 29.67. This figure suggests that TYME stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current TYME readings is similarly very revealing as it has a stochastic reading of 14.04% at this stage. This figure means that TYME share price today is being overbought.

Technical chart claims that Tyme Technologies, Inc. (TYME) would settle between $1.11/share to $1.19/share level. However, if the stock price goes below the $0.99 mark, then the market for Tyme Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.95 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

TYME equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Tyme Technologies, Inc. (NASDAQ:TYME) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.