Atossa Therapeutics Stock Runs While Trading In Bearish Pattern

Atossa Therapeutics Inc ATOS shares are trading higher Tuesday after retail traders were able to push the stock higher. The stock was trading on above-average volume Tuesday and was trending on social media sites throughout the day such as StockTwits.

Atossa Therapeutics was up 13.42% at $6.34 at last check on Tuesday.

Atossa Therapeutics Daily Chart Analysis

• Shares were trading in what technical traders call an inverse head and shoulders pattern. But after making a large run, shares now trade in a head and shoulders pattern.
• The stock is trading above both the 50-day moving average (green) and the 200-day moving average (blue), indicating sentiment in the stock is bullish.
• Each of these moving averages may hold as an area of support in the future.

Key Atossa Therapeutics Levels To Watch

• The stock broke out from the inverse head and shoulders pattern and looked to have found a top now looking ready to reverse in a head and shoulders pattern.
• The head and shoulders pattern is a bearish reversal pattern that happens after the stock is unable to make new highs.
• If the stock breaks below the $5 level it may confirm the pattern and see a further bearish push.

What’s Next For Atossa Therapeutics?

Bullish technical traders would like to see the stock bounce and break away from the head and shoulders pattern. If the stock breaks away it may be able to continue to move higher.

Bearish technical traders would like to see the stock continue to fall and for the stock to confirm the head and shoulders pattern. If the pattern is confirmed the stock may see a large downward push.