24 hour Technical analysis tenx

Tenax Therapeutics, Inc. (TENX) has shown significant volatility over the last 24 hours, with a substantial increase in its stock price. Here's a detailed technical analysis:

1. **Price Movement**: The stock price of Tenax Therapeutics has experienced a notable upswing, gaining 28.77% on the last trading day, rising from $2.92 to $3.76. This represents a strong positive signal for investors, indicating a potential turnaround or bullish trend.

|Ticker|Name|Percentage Change|Date|code|market_code|
|---|---|---|---|---|---|
|TENX.O|Tenax Therapeutics|28.76712328767123|20240807|TENX|186|

2. **Support and Resistance Levels**: The stock has no specific support or resistance levels mentioned for the day, but the closing price on the previous day was $3.76, which could be considered a support level for the time being.

|Ticker|Name|Support Level (Narrow)|Resistance Level (Narrow)|Closing Price|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|TENX.O|Tenax Therapeutics||3.833|3.76|20240806|TENX|186|
|TENX.O|Tenax Therapeutics||||20240807|TENX|186|

3. **Market Sentiment**: The sentiment around TENX has been positive, with a buy signal from both short and long-term moving averages, indicating a positive forecast for the stock. Additionally, there is a general buy signal from the relation between the two signals, where the short-term average is above the long-term average. This suggests that the stock is currently in an uptrend.
4. **Technical Indicators**:
- **Relative Strength Index (RSI)**: The RSI is not provided, but it can be inferred that the stock is either in the overbought territory or approaching it, given the significant price increase. An RSI above 70% would confirm this, indicating that the stock may be due for a pullback or consolidation.
- **Moving Averages**: The stock holds buy signals from both short and long-term moving averages, which is a strong positive signal for the stock's future performance.
- **MACD**: There is a sell signal from the 3-month Moving Average Convergence Divergence (MACD), which could indicate a potential reversal or at least a pause in the current uptrend.
5. **Volume and Price Dynamics**: The stock has shown increased volume along with the price increase, which is a positive technical sign. The total volume traded was approximately $105.13 million, indicating strong investor interest and participation.
6. **Analyst Forecasts**: Analysts have predicted an upside of 813.80% based on their 12-month stock forecasts, suggesting that the stock has significant potential for growth. This is a very bullish outlook and could attract more investors looking for high-growth opportunities.

In conclusion, Tenax Therapeutics, Inc. (TENX) has shown strong positive signals over the last 24 hours, with a significant price increase and positive technical indicators. However, the stock is approaching overbought territory, which could lead to a potential pullback or consolidation. Investors should monitor the stock closely, considering both the bullish and bearish aspects before making any investment decisions.