Getting Started in Stock Investing and Trading by Michael C. Thomsett

Author:Michael C. Thomsett [Thomsett, Michael C.]
Language: eng
Format: epub
ISBN: 9781118399279
Publisher: Wiley
Published: 2013-02-25T00:00:00+00:00

Valuable Resource

Even if you know what support and resistance mean, can you find those price levels on a chart? A great article explaining how to find these levels is provided by www.swing-trade-stocks.com at: www.swing-trade-stocks.com/support-and-resistance.html.

The concepts of support and resistance define the majority of technical indicators, and traders rely on the structure provided by the trading range (defined as the price breadth existing between support and resistance) to identify strength or weakness of price movement. Most technical indicators involve price tests of support or resistance. A breakout below support or above resistance has significance, whether it represents creation of a revised trading range, or fails and price then retreats back to the established trading range. Many indicators involve failed tests of these borders, often preceding price movement in the opposite direction.

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