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(NEW YORK) – Ludlow Research has issued an alert on Auris Medical Holding (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in neurotology and mental disorders supportive care, with an attractive technical analysis below $1.00 per share.
EARS recent run from around $0.30 to a high of $2.00 in just the month of October had pushed the stock into highly over bought territory, with an RSI approaching 90. In addition, EARS had found resistance at its 200-day moving average during this run, which is now around $1.50 per share.
More important, EARS had formed a “gap” in its daily trading chart between $1.00 to $1.25, which historically needs to be ‘refilled’ before most stocks can continue any next leg upwards.
Based on these indicators EARS was obviously positioned for a pullback after such a strong run. But with the RSI pulling back, and price now refilling the gap in daily chart, Ludlow Research feels anything below $1.00 to be a much more attractive trading opportunity for anyone looking to take an entry position in this stock.
Download EARS alert here https://ludlowresearch.com/reports
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About Auris Medical
Auris Medical is a Swiss biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in neurotology and mental disorders supportive care. The company is focused on the development of intranasal betahistine for the treatment of vertigo (AM-125) and for the treatment of antipsychotic-induced weight gain and somnolence (AM-201). This program is currently in Phase 1. In addition Auris Medical has two Phase 3 programs under development: AM-111 for sudden sensorineural hearing loss and Keyzilen® (AM-101) for acute inner ear tinnitus. The Company was founded in 2003 and is headquartered in Zug, Switzerland. The shares of Auris Medical Holding AG trade on the NASDAQ Capital Market under the symbol “EARS.”