Vertiv Holdings Co (NYSE:VRT) shares moved higher Friday. There is a good chance this move continues.
Vertiv was oversold. It was also at support. These two dynamics can set the stage for a reversal, and it is why Vertiv is the Stock of the Day.
Successful traders understand that certain price levels in the financial markets can have more importance than others. This can be seen on the chart of Vertiv.
As you can see on the chart, the stock found support around $227. This wasn’t a coincidence. There is support at this level because it was support in March.
A number of the traders and investors who sold their shares around $227 regretted doing so when the price rallied. Some of them decided to buy their shares back.
