By Hidden Values Daily 
But the shares may soon find a bottom and even reverse. This is why Robinhood is the Stock of the Day.
• Check out what HOOD stock is doing here.
When markets are moving higher, people who were sellers can regret their decisions to sell. A number of them may decide to buy their shares back. But they will only do so if they can buy them for the same price they were sold.
As a result, if and when the stock drops back to what had been resistance, they place buy orders. If there is a large enough quantity of these orders, it will result in support forming at the level that had been resistance.
This can be seen with the $115 level for Robinhood.
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In August, it was a resistance level. When this resistance broke in September, many of the people who sold around $115 came to think their decision to sell was a mistake.
So when the shares fell back to $115, they put in buy orders. There were so many orders that they formed support at the level.
Now the same thing may occur with the $121 level. It was resistance in early September. But the resistance broke and soon after, Robinhood dropped back to $121. Remorseful sellers came into the market as buyers and put a floor under the price.
After another move higher and reversal, the level provided support again on Oct. 22.
Now Robinhood has once more fallen back to the important $121 level. If it finds support here again, it may reverse and rally.
Stocks rally off support levels when anxious and impatient buyers start to outbid each other. They want the sellers to come to them, so they raise the prices they are willing to pay. Other anxious and impatient buyers do the same.
This can force a stock into a new uptrend, and it may be about to happen with Robinhood.
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