Auris Medical Holding Ltd. EARS shares traded on increased volume during Friday’s trading session. There is no company-specific news evident to explain the increased volume.
Here are some potential technical levels to watch for: The short-term 5-minute chart below displays $3.70 as a place in the past where the price has had trouble breaking above multiple times. A technical trader may call this a potential resistance.
$2.75 is a place where the price has had trouble dropping below in the past. A technical trader may call this price level a potential area of support.
A bullish technical trader would like to see the price break above the speculative resistance and consolidate for a time before an additional upwards move may be possible. The bearish technical trader would like to see the opposite happen, a break of support with consolidation before a possible lower move.
The previous history on the daily chart shows there are two levels of potential resistance and one level of a potential support area. The potential resistance may happen near the price of $4.50 as the price was unable to close above this area in the past chart history. A further area of potential resistance is near the price level of $5.50 as that's a place the stock has made highs in the past, and a place that the price has been unable to close above in the chart history.
The potential level of support comes at an area where the price has been unable to break below previously. The daily chart history shown below indicates this level happens somewhere around the $2.50 price level. It's possible this area acts as a potential level of support in the future.
As with the short term, bullish technical traders want to see resistance break with consolidation above for possible higher moves. Bearish traders would like to see a break of possible support with consolidation before a lower move may be possible.
Auris Medical is trading with a market cap of $22 million and a public float of 6.74 million shares.
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