For some weeks there has been no news at all about CTT Pharmaceutical Holdings Inc (OTCMKTS:CTTH) at all and hence, it is hardly surprising that the stock was trading within a range on Wednesday.
On Wednesday, CTTH stock ended flat at $0.0500 with 1 shares, compared to its average volume of 14K shares. The stock moved within a range of $0.0500 – 0.0500 after opening trade at $0.0500.
However, at the same time, it ought to be noted that stocks trading within a range can also breakout strongly sometimes and hence, it may be a good time to take a look at the news with regards to CTT from back in April. Back on April 27, the company came into the news cycle after it announced that it had submitted a patent application for its orally administrable strips which contain caffeine.
It was a significant announcement and may have brought the CTT stock into focus among many investors. However, in this context, it is also necessary to remember that the application in question was of the continuation in part variant. In the past, CTT had been granted United States patents for similar products.
On the other hand, it is also important to remember that the technology that is used to produce those strips are patentable in the United States too. It may be a good time to keep an eye on further developments on this front.
CTTH stock is trading below the 20-Day and 50-Day Moving averages of $0.0620 and $0.0521 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 44.