Stock Of The Day: Where Is The Bottom For Nebius?

Core Viewpoint - Nebius Group N.V. shares are experiencing a downward trend following the company's earnings report, with traders eyeing a potential support level at $98.50, which was previously established in October [1][4]. Group 1: Stock Performance - Nebius Group's stock is currently trading lower, prompting traders to look for a bottom around $98.50, a level that previously acted as support [1]. - The stock had rallied after finding support at $98.50 in October, indicating a potential for a similar rebound if the price reaches this level again [1][4]. Group 2: Trader Behavior - Some traders who sold their shares are experiencing remorse and are considering repurchasing at the same price they sold, indicating a psychological aspect to trading decisions [3]. - If Nebius continues to trend lower and hits the $98.50 mark again, a significant number of buy orders could emerge, potentially creating support at that level [4]. Group 3: Market Dynamics - Stocks often rally off support levels when buyers become anxious and start bidding against each other, which can lead to an upward price movement [5]. - Successful traders monitor how stocks behave after reaching important support levels, positioning themselves accordingly for potential reversals [6].