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Hoth Therapeutics (NASDAQ:HOTH) shares are trading higher on above average volume today amid a filing from the company for a provisional patent application for the use of one of their therapeutics to treat and prevent Alzheimer’s disease. Hoth Therapeutics is a clinical stage biopharmaceutical company focused on developing what it calls “new generation therapies.”
Technical Levels
Hoth Therapeutics has traded over 15 million shares for the day as of 11 am ET. The price recently broke above a previous resistance of $3.00 and has since consolidated. There are two key psychological levels traders are citing for this stock including $2.75 and $2.50.
The daily chart, over the past year, shows what technicians would refer to as resistance at the $3.50 and $4.00 levels. These are both previous intraday highs the stock achieved. Technical traders often view share price appreciation above previous highs as a bullish indicator. The daily chart below also shows previous intraday highs at $5.00 and $7.00.
Hoth has a smaller float of 6.70 million shares and a market cap of $35 million. Traders should be advised that stocks with a low float and market cap can change price quickly.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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