A good question and happy to elaborate..
A Support line is where the stock finds support, and by that it is meant a value where the candles tend to revert to. Consider a floor level if you like.
A Resistance line is the opposite in that it the upper level where the stock has peaked at and then reversed. Using the same analogy consider it the ceiling.
Here is a link, specifically for this question, but also one for some good, general background.
https://www.investopedia.com/trading/support-and-resistance-basics/
APX Charts, page-3373
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46.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $103.4M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 48.5¢ | 46.5¢ | $384.0K | 812.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 129050 | 46.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 42511 | 3 |
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| APX (ASX) Chart |