Published on 7 Nov 2022 on Zacks via Yahoo Finance
Veritiv (VRTV) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VRTV broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.
VRTV could be on the verge of another rally after moving 7.6% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
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