Shares of Clearside Biomedical, Inc. CLSD are skyrocketing Tuesday morning after the company announced positive safety results for a treatment for eye diseases.
If Clearside makes it to the $4.25 level, there is a good chance that the rally stalls. This level was resistance in January and February. When shares reached it, they ran into a wall of sellers and then trended lower.
In financial markets levels that are important can remain so for a long period of time. This means there may still be a large group of sellers who want to sell their shares at $4.25. If so, they could put a top on Clearside again.
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