Hemispherx (HEB) Shares Breaking Out as $1 Technical Level Holds; Stock Up 23%
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Shares of Hemispherx BioPharma (AMEX: HEB) appear to be breaking out technically during today's holiday-shortened trading session. The stock is now up more than 23%, most recently trading at $1.48.
Over the last month or so, the highly-momentous Hemispherx shares began moving lower, eventually testing the $1 level for the first time since the stock's sharp rally (almost 1000%) in May and early June amid swine flu concerns. As recently as November 13, the stock pushed under $1, to $0.97, but the price quickly bounced and momentum now seems to be moving back to the upside.
The move higher began earlier this week when the stock effectively held over the $1 psychological barrier on Tuesday and then broke over $1.10 on Wednesday.
Despite trading floors that are unusually spacious today, given the holiday session, shares of Hemispherx are seeing strong volume: already trading nearly 7 million times, which compares to the stock's average daily volume of about 2.5 million shares.
Over the last month or so, the highly-momentous Hemispherx shares began moving lower, eventually testing the $1 level for the first time since the stock's sharp rally (almost 1000%) in May and early June amid swine flu concerns. As recently as November 13, the stock pushed under $1, to $0.97, but the price quickly bounced and momentum now seems to be moving back to the upside.
The move higher began earlier this week when the stock effectively held over the $1 psychological barrier on Tuesday and then broke over $1.10 on Wednesday.
Despite trading floors that are unusually spacious today, given the holiday session, shares of Hemispherx are seeing strong volume: already trading nearly 7 million times, which compares to the stock's average daily volume of about 2.5 million shares.
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