Insulet Corp (PODD) is a leading medical device developer and manufacturer of an insulin delivery system. The stock recently made a high on July 7th, 2021 at $290.00 a share. Since that high pivot, the shares have declined sharply and currently trade around the $255.00 area. Today, the stock is falling below its’ important 200-day moving average putting the shares in a weak technical position on the charts. This chart formation will usually signal lower stock prices are likely in the near term.
Traders should now watch for important support around the $238.00 level. This level is where the stock broke out to the upside on May 20th, 2021 from a major downtrend. Very often, stocks will be defended when they retest their prior breakout levels. This would be a level that could see a multi-day bounce when tested.
Get EVERY trade Nick is taking with his members right here…
Get all of Nick’s OPTIONS Swing Trades Here <<>> Get all of Nick’s STOCK Swing Trades Here