Hey, I'm new to investing and have been doing some DD on some stocks on the site stockta.com. In the analysis, it gives a few prices at what the stock has support or resistance. Im thinking resistance is where it has a hard time of getting past, where as the support is a value that it will hold at if dropping dramatically. Am I even close?!
Jbate
Posted by Jeremy on :
you're right on
Posted by xxartyxx on :
keep in mind that both, supp & ress, can be broken and create mixed opinion so if you buy low it might go lower or if you sell high and it goes higher you might have the tendancie to buy higher thinking that the ex.ressistance will become new support but there are temp. supp & res, trade with the trend, buy high and sell higher, keep stop loss points on your mind @ all times, minimise the risk. best thing of all is dont jump in if your not sure of what that daily trend will be..use open price signals to your advantage and wait for price confirmation. if you dont know about some or all of this i suggest you read, read, read theres alot more to it than just buying and selling, bid-ask and the spread are important, market sentiment of its underlying sectors, indexes and so on for the day, week, month and so on are also very important. you must consider the position size you plan to be in, for how long, etc. sorry for the yap ill stop now.
Posted by VNGNTN1 on :
I AM SITTING IN A LOUNGE CHAIR RESISTANCEis when someone ask' me to get up SUPPORT is when someone asks-can the put up the foot rest. Am I close? VAN
ill stop now.