Where Will The Pieris Pharmacuetical Stock Rally End?

Shares of Pieris Pharmaceuticals, Inc. PIRS on Tuesday surged by over 100% after the company announced a respiratory and ophthalmology collaboration with Genentech. Shares are also trading higher this morning.

If shares make it to $6, there's a good chance they run into a wall of resistance. This is where the stock made a top in July and September 2019.

This may seem like a long time ago. But an old saying is that "markets have memories." This means certain levels can retain their importance for long periods of time. Sometimes, it can last for years.

There’s a chance it happens here with Pieris Pharmaceuticals.