Technical Levels To Watch In Aytu BioPharma Stock

Aytu BioPharma Inc. AYTU shares were rallying Monday after retail traders were able to push the stock higher.

The stock has traded on above-average volume with 7.6 million shares traded so far — over 1,000% its average volume over the last 100 days. The stock trades with a float of 21.41 million shares and a short percentage of 11.81% of the float.

Aytu BioPharma was up 19.03% at $5.63 at last check Monday. 

Aytu BioPharma Daily Chart Analysis

• Shares have been trading in a sideways channel and moved above a lower high resistance line Monday.
• The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment has recently been bearish.
• Each of these moving averages may hold as a possible area of resistance in the future.

Key Aytu BioPharma Levels To Watch

• In late 2020, the stock found support near $6 before breaking below the level and retesting it as resistance; the level may now hold as resistance.
• The stock has been able to find support near the $5 level multiple times in the past and may hold this level again in the future.
• The stock had a lower high trendline that was recently broken. The stock looked to test this area again as support, and now could be ready to see a trend change.

What’s Next For Aytu BioPharma?

Bullish technical traders would like to see the stock cross above the $6 level and hold this level as support once again. If the stock can consolidate above this level, it could be ready to see another push higher.

Bearish technical traders would like to see the stock fall below the $5 level. Some consolidation below this level could hint that the stock is ready to see a further downward push.