July 2015
Intermediate to advanced
352 pages
9h 40m
English
book
A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
by Michael C. Thomsett
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
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The Nature of Resistance and Support
A definition of support and resistance should be agreed upon in order to delve into a more advanced discussion. To define both: “Support is a level or area on the chart under the market where buying interest is sufficiently strong to overcome selling pressure. As a result, a decline is halted and prices turn back again. ... Resistance is the opposite of support.”2
Trends are defined by the attributes of resistance and support. The price points of these borders to the trading range are visual representations of supply and demand; activity of price within these two prices reflects the short-term effects of many influences. Earnings, mergers, and dividend announcements are examples of fundamental events that ...
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