Shares of cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) have soared 170% this week after the company said it launched a COVID-19 test on the Amazon.com, Inc. (NASDAQ: AMZN) business platform.
A similar thing happened in July when Precipio first announced its COVID-19 strategy. Shares made an even larger move than they did this week.
Investors should focus on two key levels.
In July, shares reached $8, but by the close, they backed off to $7. Levels that had previously been resistance can become resistance again. If PRPO reaches these levels, there is a good chance the rally stalls out at them once more.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.