Yesterday, CytoSorbents Corporation (OTC:CTSO) tested the resistance when it once again hit $0.225 within one month. The stock surged 4% on a volume of 1 million shares, which is exactly the same as the daily average.
For about one month now, CTOS had been fighting with the 50-MA, which has converged with the resistance. However, the candlesticks of CTSO have been unable to penetrate above this line so far.
Therefore, it seems that those of the traders who rely on technical analysis may be closely watching what is happening at this stage. The major signal for action can come if the stock finally manages to penetrate the line, or succumbs to the gravity force and bounces back down from the 50-MA line. [BANNER]
CTSO has been rising by small 
steps in the last four days, most likely thanks to the released shareholder letter and press release. On Wednesday, the company published the research report which was made by Global Equity Reporter on the company. It seems that the report had helped CTSO to finish another couple of days in the red numbers.
Despite the series of price increases, it is apparent that CTSO has reached the critical point where both its resistance and 50-MA line converge. So, this is where the most crucial action will happen in the coming trading days.
