Has TRxADE HEALTH Stock Broken Critical Long-Term Resistance?

Markets have memories. This means that a particular support or resistance level can stay in place for a long-time.

This has been the case with the $7.95 level for shares of TRxADE HEALTH, Inc. MEDS, but this critical long-term resistance level may finally have broken.

MEDS reached $7.95 in May and July of 2020 and again in February. All three occasions were all followed by significant moves lower.

Earlier Thursday, MEDS reached this level again, but this time it blew right through it. This could mean the sellers who kept a ceiling on the stock for 18-months may finally be gone. With this supply out of the way, the stage may be set for further gains.

If MEDS can’t hold above this important level for at least a day or two, there is a good chance the trend reverses and the shares go into another steep sell-off.