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Aptose Biosciences Stock Trades Higher After Q4 Earnings: Technical Levels To Watch

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Aptose Biosciences Stock Trades Higher After Q4 Earnings: Technical Levels To Watch

Aptose Biosciences Inc. (NASDAQ: APTO) shares traded higher after the company’s release of fourth-quarter results Tuesday. 

The stock gained 66.21% in Wednesday's regular session, closing at $6.10. Aptose shares were giving back 7.05% at last check during after-hours trading. 

apto5min3-24-21.png

Aptose Bioscience Short-Term Chart Analysis: The 5-minute chart shown above displays the chart is trading in a channel between the prices of $5.60 and $6.80.

The price was unable to break above and consolidate over the $5.60 level during premarket trading on Wednesday. The price after the market open was able to cross above this level and hold as a support. This level may hold as support in the future.

The stock saw resistance up near $8.60 multiple times throughout the day Wednesday. This level may hold as short-term support in the future.

The stock trades above the 200-day moving average (blue) and below the volume-weighted average price (pink), indicating the stock is most likely consolidating. The stock may consolidate until the price breaks past one of these indicators.

aptodaily3-24-21.png

Aptose Bioscience Daily Chart Analysis: The daily chart history shows the stock held $6.50 as a support level before it broke through earlier this year. Since, the stock has struggled multiple times to cross above to cross above the $6.50 level, indicating it is a potential resistance.

The chart shows the stock has previously found $5 as support and held it as resistance. As the price sits higher than $5, this area may be somewhere the stock finds support in the future.

See also: Best Biotech Stocks Right Now

The stock price also trades above the 200-day moving average on the daily chart, indicating the stock has bullish sentiment. This indicator may also be an area of support in the future. 

Bulls would like to see the stock move up to the resistance level before breaking above, consolidating, and possibly moving higher.

Bears would like to see the stock to the opposite, fall through support and consolidate before possibly moving lower.

 

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Posted-In: Biotech Earnings Long Ideas News Short Ideas Health Care Small Cap Analysis Technicals

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