Skip to main content

Market Overview

Timber Pharmaceuticals Has Seen Increased Trading Volume Over the Past Three Months

Share:
Timber Pharmaceuticals Has Seen Increased Trading Volume Over the Past Three Months

Timber Pharmaceuticals (NYSE: TMBR) has seen increased trading volume over the past three months. Timber focuses on developing treatments for rare dermatology diseases or conditions that currently have no treatments, including: Congenital Ichthyosis (CI), Tuberous Sclerosis Complex (TSC), and Localized Scleroderma.

Technical Levels

Timber recently formed what some technical traders call an ascending triangle, with resistance at $1.65, and broke out to new highs over $3.00. After hitting $3.00, it fell back down and retested the new support at $1.65 and bounced. Resistance on the daily chart below shows what speculative traders consider to be a resistance around $3.00.

Timber has been trading at higher than average volume since December 14th, 2020. On December 15th, 2020, Timber received notice of allowance on the company’s lead asset TMB-001 and has had much higher volume each day since. Timber has a low market cap of 28.35 million and a float of only $6.60 million. The float short is 20 percent.

 

Related Articles (TMBR)

View Comments and Join the Discussion!

Posted-In: Biotech News Penny Stocks Rumors Technicals Markets Trading Ideas General

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com