Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) have hit a wall of resistance at the $4.30 level. This has put a top on the stock.
Resistance is a large concentration of sellers who are trying the get the same price for their shares. At resistance levels, there is more supply than demand for the stock. That’s why rallies end when they reach them.
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The $4.30 level was resistance in December and February.
Once again shares have reached this level, and once again there is resistance. If the stock can't clear this level in the next trading day or two, there's good chance sellers take over.
