TNXP - Surely Not! 😬😬😬

TNXP looks like it may be breaking down from a continuation pattern.

Price has never moved past the 20Mma and it is brushing against it here. Good chance collapse is coming and another leg down the mountain.

If it is a continuation then from the thrust candle top, a 1:0.618 extension takes price to $0.029!

And a 1:1 would see price get to a staggering $0.0018! 😬😬😬

I'd buy a few at that price!

Comment:

If this was accumulation price would have held above the 200Dma, but look how it capitulated and gapped down to descend into another technical bear market.

Winter is coming.

And very cheap prices for those that study the dark art of "squiggly lines."

Comment:

I can see other publishers are clutching at the D bullish divergence and good chance this will bounce assuming indexes recover, but at this point price has moved too far away from 200Dma and so a bounce could likely fill that gap to reject from the 200Dma and that will be a technical bear market confirmed.

This is a very dangerous stock.

Comment:

Looks like it will be another leg down into oblivion. This is why you never buy a stock just after a 200Dma / 50Wma break.

Comment:

Press play and ask yourself if the target still seems unreasonable. A real money burner this one.