Peter Hristov

Aeolus Pharmaceuticals, Inc. (OTC:AOLS) Finishes Below the 50-MA

by Peter Hristov October 11, 2011
AOLS_chart.pngYesterday, Aeolus Pharmaceuticals, Inc. (OTC:AOLS, AOLS message board) dropped down 8.89% to $0.41 on a volume of 208 thousand shares. The generated volume was much higher than the 3-moth daily average which is 16 thousand.

The increased trading activity with AOLS stock was produced by an announcement made by the company on the Marketwire system and published on the OTC Markets bulletin board.

The press release said that the National Institute of Health, through its Countermeasures Against Chemical Threats Research Network, had awarded a $12.7 million five-year contract to Carl White and Brian Day to continue the development of AEOL 10150 as a medical countermeasure against chlorine gas exposure.

AOLS_logo.gifAlthough the market reaction was against AOLS stock yesterday, the stock still hit an intraday high at $0.549 before the plunge. Actually, the bulk of the trading volume was made around the intraday high, while the closing value was generated by small order amounts.

For another time AOLS couldn't finish above the 50-MA, but at the same time the MACD is entering a sideways phase. This can be a technical relief to the stock.

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