September 25, 2016

Heat Biologics Inc (HTBX) Bottoming Out??

The stocks of Heat Biologics Inc (HTBX), after dropping to an all-time low last May, might be bottoming out given the current chart setup. By the way, this company is a US biotechnology company focused on developing immunotherapy.


Based on my technical analysis, there could be a cup and handle forming with the neckline being at 2.07. At the same time, the handle of the mentioned chart pattern happens to be a triangle. If the stocks break above the triangle's resistance, the next target could be 2.07. If that breaks, the next marker could be 2.51 then 3.12. HTBX, being one of my stock picks, might be ripe for a move up as the price smoothly sails above the 50/100/200 moving averages and a possible bullish crossover on the MACD. On the downside, if the stocks breach below the 1.29 support, the next marker could be 1.20. Overall, whatever technical analysis we come up with, if this company releases bad financials/news/reports or whatever negative publicity is out there, the price can just free fall and vice versa. Caveat.


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