Stocks which trade within a range may often break out as well and hence, investors might continue to monitor such stocks. On Thursday, the SunHydrogen Inc (OTCMKTS:HYSR) was trading within a range and it was perhaps understandable considering the fact that there has been no news about the company for many days.
The company is involved in developing innovative technology that can help in the production of hydrogen by deploying water and sunlight. Earlier on this month on September 15, SunHydrogen announced that its sponsor research agreement with the University of Iowa had been extended by another 12 months.
It was a major new development for the company considering the fact that the extension will help the company in continuing to work on the development of its nanoparticle powered green hydrogen tech at commercial levels.
Perhaps it is necessary for investors to keep in mind that the University of Iowa has been a development partner of SunHydrogen for many years. In addition to that, its research team has worked on the company’s projects with great dedication for many years. It now remains to be seen if the stock does break out or not in the coming days.