TSHA Stock Price is Recovering From Base; Will It Make It to $10 Soon?
- TSHA stock price has been struggling below the $3.50 mark Since March.
- Taysha Gene Therapies stock price has lost 29% in the past 2 weeks indicating sellers’ dominance.
On a bigger time frame, the TSHA stock price is recovering from an all-time low. Since mid-February, the price has been in a bullish trend but the momentum has disturbed from the $3.40 mark and reacted negatively. The asset price has tried three times to overcome the $3.50 hurdle but sellers are strong.
According to the technical chart, the price has defended the $2 make, indicating the buyers’ interest. Currently, the price has melted to the $2 level and forming green candlesticks which may help to invite the buyers. At the beginning of 2024, the TSHA stock price formed a base near the $1.50 hurdle and gained buying momentum and currently, it is doing the same near the $2 mark.
The current market price of TSHA stock is $2.38 which is up by 3.91% in the previous trading session. The market capitalization of GMX is $446.97 million and the current trading volume is $2.71 million. The public float is $128.61 million and the shares outstanding are $187.02 million.
Earnings and Revenue
The earnings and revenue are about to arrive on May 08, 2024, for the ending period of March 2024. The expected earnings are -$0.109 and the revenue is $2.880 million. If the earnings positively surprise the price may gain buying momentum and overcome the last swing high.
TSHA Stock Price Analysis; Will Buyers Overcome the $3.50 Hurdle?
NASDAQ: TSHA/USD 1-Day Chart By TradingView
The TSHA stock price chart structure displays that the price has been struggling between the $2 and $3.40 levels. Currently, the asset price is at the major support level of $2. Suppose the upcoming earnings remain positive then it may leave a positive impact on the price.
If the trading volume increases and buyers show interest, the price may approach the resistance level of the $3.50 mark in the next few days. Suppose the price manages to surpass the major resistance level and trading volume supports then it may continue the recent bullish trend and investors may eye for the $10 mark.
On the other hand, if the TSHA stock price fails to defend the $2 level, it may easily drop to the $1.40 mark in just a few days. Suppose the buyers fail to hold the $1.40 grip and the price sustains below, the sellers will get control, and the asset price may keep declining.
Based on the technical indicator, the TSHA price is trading between the 20-day and 200-day exponential moving average which shows the neutral momentum. ADX is 18.81 and heading toward the selling zone which is favoring negative sentiment.
TSHA price Has Formed a Double-top Pattern on a Weekly Chart
NASDAQ: TSHA/USD 1-Week Chart By TradingView
On a weekly time frame, the TSHA price has formed a double-top pattern. It has formed a second top and showing bearishness. Currently. the asset price is taking support on the 50-day exponential moving average and trying to gain buying momentum.
Suppose the TSHA price slips below the 50-day EMA and sustains then it will form a complete double-top pattern. If the price starts trading below the $1.40 mark, it may record a new all-time low soon.
Alternatively, if the TSHA price manages to surpass the recent top and trading volume supports then it may achieve the 100-day EMA in a few weeks. Suppose the price starts trading over the 100-day EMA then it turns as a trend reversal momentum.
Technical Support Levels are $2.00 & $1.40 and resistance are $3.40 & $3.80
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
