TME Pharma stock surges nearly 20% and targets its resistance at €0.16
The oncology-focused biotech is experiencing a spectacular intraday jump, following a press release published on Monday, August 24, on the progress of discussions surrounding its flagship asset. The stock is now trading just below its key resistance level, in a context of a slightly positive European market.
A jump of nearly 20% driven by the entry into the partner selection phase for NOX-A12
TME Pharma gains 19.23% to €0.155 during the session, after closing the previous day at €0.13. The rebound follows the press release published on Monday, August 24, in which the company announced it was entering the final evaluation phase of advanced negotiations with two potential partners with a view to a licensing agreement for NOX-A12, its flagship oncology asset. The group specified it was initiating the selection of the partner responsible for ensuring the advanced phase development and commercialization of this molecule. Over the week, the gain reaches nearly 90%, and the stock shows a gain of more than 71% over three months, demonstrating sustained bullish momentum since this summer.
A tight technical configuration: RSI close to overbought and resistance at €0.16 in sight
On the indicator front, TME Pharma is trading well above its moving averages: the gap with the 20-day MA (€0.08) exceeds 93%, and that with the 50-day MA (€0.07) approaches 121%. This gap illustrates the scale of the recent rally, which has driven the stock well beyond its medium-term reference points. The RSI at 69 approaches the overbought zone without having crossed it yet, signaling still active buying momentum but which warrants monitoring. With a price at €0.155, the stock is trading less than a cent away from the resistance threshold identified at €0.16, a level whose breakthrough or rejection should determine the next direction of the security.
