SunHydrogen Inc (OTCMKTS:HYSR) is currently best known for having developed the landmark technology by way of which renewable hydrogen could be produced from water and sunlight. In the past week, the SunHydrogen stock has been one of the biggest movers in the market as well and it continued on Wednesday as it soared by 38%.
Trading Data
On Wednesday, HYSR stock increased 38.06% at $0.0746 with more than 67.53 million shares, compared to its average volume of 14.70 million shares. The stock has moved within a range of $0.0540 – 0.0750 after opening the trade at $0.0540.
Major Buzz
That took its gains for the past week to as much as 80% and it might be the right time for investors to start tracking the stock closely. However, in this regard, it is necessary to keep in mind that there has been no news at all about the company over the course of the past week that could have triggered such a rally.
The last piece of news to have emerged about the company was back on October 11 when SunHydrogen announced that it signed a sponsored research agreement with the University of Michigan. The agreement in question is a significant one for the company and was going to last for 12 months from the date of the signing. The company is going to be involved in research that is going to be focussed on the development and testing of efficient oxygen and hydrogen catalysts.
Traders Corner
HYSR stock is trading above the 20-Day and 50-Day Moving averages of $0.0482 and $0.0502 respectively. However, the stock is trading below 200-Day moving average of $0.0930. The stock is up 45% in the past month.
