Auris Medical Shares Up 50% Since Breaking Above $3.50 Level Last Week

Shares of Auris Medical Holding AG EARS seem to have broken out and away from an area of technical support/resistance which haunted it since the end of September.

The stock, which gapped about 22 percent higher on Thursday, December 24 to clear an important level at $3.50, traded about 5 percent higher on Monday and about 10 percent higher on Tuesday.

Auris Medical shares are now flirting with a resistance level at $5 -- a level which saw some action more than a few times over the course of 2015.

Investors should note a lack of news related to the company despite the sharp move higher.

The last news item reported by Auris (from November 13, 2015) showed the company had begun enrollment for its HEALOS study of AM-111 for the treatment of idiopathic sudden sensorineural hearing loss.

As that press release indicated results from the trial are not expected until the second half of 2017, investors in the name should not be reacting to an update on the AM-111 study.

Also notable: volume in the stock has increased markedly since the big gap higher on December 24. With a couple hours left in Tuesday's trading session, about 950,000 shares of Auris Medical had traded, versus the stock's average full-day volume of just 154,000 shares.