Koss Corp. Stock Technical Levels To Watch

Koss Corp. KOSS shares gained 69.16% in Wednesday's session, closing at $30.28 in trading action that appears aligned with other stocks driven by traders on the Reddit Wall Street Bets forum. 

Koss Technical Levels To Watch:The 15-minute chart above shows the stock was moving upward fast throughout the day Wednesday before trading was halted on circuit breakers on a harsh downward plunge.

Right before the halt, the stock price hit a key resistance level of $40 that's shown by previous chart history.

The stock has previously held up $20 as resistance multiple times before it was broken. Now, this level may be able to hold as a potential resistance level in the future.

Looking at the daily chart above seems to show the same story.

The stock has shown resistance near the $40 level multiple times and has not been able to break above and hold.

The previous resistance of $20 seems to have broken and may now hold as a potential resistance.

Bulls would like to see the resistance level break with some consolidation above the level. The consolidation above resistance is key: if the stock is unable to hold gains, it may fall back to where it came from.

Bears would like to see the old resistance level of $20 break with consolidation below before the price may see more downward moves.

Koss is trading with a market cap of $45 million and a public float of 1.56 million shares.

Traders should take caution when trading Koss because of the very small public float. This will most likely make the price move extremely fast with some volume.