BZ Chart Of The Day: Dare Bioscience

If markets have memories, shares of Daré Bioscience, Inc. (NASDAQ: DARE) may be in trouble. The stock has run into a resistance level.

Resistance is a large group of sellers offering their shares at or close to the same price. In this case, it’s $2.40.

Sometimes rallies or uptrends end when they reach resistance levels. This happens because at the level there is more supply than demand.

Stocks tend to move lower if they reach a resistance level but can’t break through it. That’s what happened with Dare in March and July.

Now the stock is close to this important level once again and a new downtrend may be about to form.