Insulet Corp (PODD) Under Pressure, Here’s The Next Major Support Level

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.  

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.