Videos

Technical Analysis: Support and Resistance on Stock Charts

Support and Resistance are the building blocks needed in order to read chart patterns properly and to trade effectively.

Support:
-A psychological level where people believe the demand is strong enough to hold the stock price up
-This is similar to a price floor, but it isn’t government-controlled
-A healthy support line hits multiple points at the same level

Resistance:
-It is the opposite of support
-A psychological level where the sellers are putting the stock down
-When a stock hits the resistance line, buyers no longer want it because the price is too high, and sellers step in
-The more times a stock hits the resistance line, the stronger it is becoming

Support and Resistance are the Same:
-Support is actually resistance and vice versa
-They both equal one another
-i.e. once the stock breaks through the resistance level, the resistance line becomes the support line
-Resistance lines continue to become support lines as the stock continues to go up
-The same is true on the downward level; support lines become resistance lines as the stock goes down
-The more trading that is done in a certain level, the stronger that level becomes

Additional Notes:
-Support and resistance do not have to be horizontal
-They can be elevated at different angles and still be support and resistance lines
-If the support or resistance is broken that means the perception of the stock has changed
-When stocks tank, people are selling their shares and they want less of that stock
-If stocks have a lot of resistance and break through the resistance line, there is a high demand for the stock (new product, positive news, etc)

#supportstocks #resistancestocks #technicalanalysis #stockcharts #stockmarket

Posted at: https://tradersfly.com/blog/stock-charts-learning-about-support-and-resistance/

πŸ’Œ Newsletter & Announcements : https://tradersfly.com/go/tube/
🎁 Discord Group: https://tradersfly.com/go/discord/
πŸ”₯ Freebies: https://tradersfly.com/go/freebies/

πŸ‘€ Start Here: https://tradersfly.com/go/start/
πŸŽ‰ Options Basics: https://tradersfly.com/go/start-options/

ONE-ON-ONE COACHING & MENTORING :::
⚽ Coaching: https://tradersfly.com/go/coaching/
πŸ† Options Mentoring (4+ Months) https://tradersfly.com/go/mentoring/

PRODUCTS ::::
❀ Courses: https://tradersfly.com/go/courses/
πŸ“š Books: https://tradersfly.com/go/books/
πŸ“ˆ My Tools: https://tradersfly.com/go/tools/
πŸ’» My Equipment https://backstageincome.com/go/computergear/

πŸ’Œ SOCIAL MEDIA:
https://tradersfly.com/go/twitter/
https://tradersfly.com/go/facebook/

πŸ’– MY YOUTUBE CHANNELS:
TradersFly: https://backstageincome.com/go/youtube-tradersfly/
CriticalCharts: https://tradersfly.com/go/criticalcharts/
BackstageIncome: https://backstageincome.com/go/youtube-bsi/
MyLittleNestEgg: https://mylittlenestegg.com/go/youtube/

🌐 WEBSITES:

Home Version 2.0

Home Page

Homepage

Home

Homepage 2.0

Home

πŸ’Œ SOCIAL MEDIA:
https://tradersfly.com/go/twitter/
https://tradersfly.com/go/facebook/

πŸ’– MY YOUTUBE CHANNELS:
TradersFly: https://backstageincome.com/go/youtube-tradersfly/
BackstageIncome: https://backstageincome.com/go/youtube-bsi/
MyLittleNestEgg: https://mylittlenestegg.com/go/youtube/

πŸ“‘ ABOUT TRADERSFLY
Tradesfly is focused on me sharing my experience and knowledge about trading options. Although we include videos related to other areas of trading, the primary focus is trading options. If you are serious about learning to trade options for selling premium, creating spreads, be sure to subscribe to the channel and join our discord group.

πŸ›‘ DISCLAIMER
All of the stocks mentioned in this video along with any other videos we have are opinions and not investment, financial or legal advice. These videos are for general education, information, and entertainment. Do your own due diligence and consult with a registered financial advisor before taking any position since everyone has a different risk tolerance.

Articles You May Like

How to Find Unusual Options Activity in ThinkorSwim (Sizzle Index)
Miami-Dade County, city expect bright economic future
Mega-mergers stand out amid a 2022 dip in hospital consolidation
Stocks making the biggest moves premarket: Intel, Chevron, American Express, Silvergate and more
South Carolina county bonds to fund private water utility buyout