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

Timber Pharmaceuticals 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.