CoreWeave, Inc. (NASDAQ:CRWV) shares are consolidating on Monday. They have been in a downtrend, but they may have found support. A reversal could be imminent.
As you can see on the chart below, there is support for CoreWeave around the $70 level. This is why it is the Stock of the Day.
If a stock or market is trending lower, it is out of equilibrium. There are more shares for sale than there are to be bought. Sellers have no choice but to offer their shares at a discount if they want to draw buyers into the market.
This results in a downtrend forming.
When the Dynamic Changes
When a stock reaches a support level, there are numerous buy orders. Investors and traders who wish to sell can do so without any fear of pushing the price lower.
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