Resistance And Support

Support is created after a DOWNTREND in the price when it stabilizes and hovers around a range of price for some period of time AFTER which the stock might go back up OR break the support level and fall further.

Resistance is created after an UPTREND in the price when it stabilizes and hovers around a range of price for some period of time AFTER which the stock might go down OR break the resistance level and rise further.

Resistance & Support are more based on human psychology rather than the underlying market fundamentals.




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