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Heat Biologics Surges On Patent Filing

June 10, 2021 3:43 pm
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Heat Biologics Surges On Patent Filing

Heat Biologics Inc. (NASDAQ:HTBX) shares traded higher Thursday after the company filed for a patent titled “GP96-Based Cancer Therapy.” The stock was trending on StockTwits throughout the day and is likely also moving as retail traders push the stock higher.

Heat Biologics was up 33% at $9.12 at last check.

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Heat Biologics Daily Chart Analysis:

  • Shares have been trading in a sideways channel and made a run near resistance.
  • The stock is trading above the 50-day moving average (green), and crossed above the 200-day moving average (blue) Thursday, indicating that sentiment in the stock is turning bullish.
  • Each of these moving averages may hold as an area of support in the future.

Key Levels To Watch:

  • The stock is trading in the channel and was recently able to find support at the $6 level.
  • The $10 level has previously held as resistance and may hold as resistance again if the price can reach this level.
  • If the stock is able to cross above resistance and hold, it may see a strong push upwards. If the stock can cross below support, it may see a strong downwards push.

What’s Next?

Bullish technical traders would like to see the stock make higher lows up toward resistance. If the stock can break above resistance and consolidate above the $10 level, it may follow with another leg up.

Bearish technical traders would like to see the stock break below the bottom of the channel. If the stock is able to cross below the $6 support and the moving averages, then it may be signaling that the stock is changing trends.

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