Newegg Commerce Stock Surges: Technical Levels To Watch

They say that markets have memories. That means the rally in Newegg Commerce, Inc. NEGG may be about to end.

Over the past week, shares of NEGG have tripled in price.

This isn’t new behavior for the stock. Back in January 2020, the shares also made a similar move higher. But once they reached levels around $27, the bears came out in force. They overpowered the bulls and drove the stock lower.

Now NEGG is trading close to the $27 level once more and the bears are watching closely. If the rally stalls out, the bears could target NEGG again. They could start to sell and this could push the stock lower.