Where Will The Clearside Biomedical Stock Rally End?

Shares of Clearside Biomedical, Inc. (NASDAQ: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.