Shares of SOS Limited SOS have been trending lower, but that may be about to change.
They're getting close to $2.50. Since the end of July, this has happened a few other times, and each occasion was followed by a rebound.
Support is a large concentration of buyers who are all looking to pay the same price for shares. In this case, it’s $2.50.
At support levels, there is more than enough demand (buy orders) to absorb all of the supply (sell orders). This is why stocks stop going down when they reach them. And sometimes stocks rally off of support levels as SOS has done. There’s a chance that it happens again.
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