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I suppose if beauty is in the eye of the beholder then support and resistance could be as well. The usual definitions applied to support and resistance are similar to the ones below from Incredible Charts -
Support
A support level is the price at which buyers are expected to enter the market in sufficient numbers to take control from sellers.
The market has a memory. When price falls to a new Low and then rallies, buyers who missed out on the first trough will be inclined to buy if price returns to that level. Afraid of missing out for a second time, they may enter the market in sufficient numbers to take control from sellers. The result is a rally, reinforcing perceptions that price is unlikely to fall further and creating a support level.
Resistance
A resistance level is the price level at which sellers are expected to enter the market in sufficient numbers to take control from buyers.
When price makes a new High and then retreats, sellers who missed the previous peak will be inclined to sell when price returns to that level. Afraid of missing out a second time, they may enter the market in numbers sufficient to overwhelm buyers. The resulting correction will reinforce market perceptions that price is unlikely to move higher and establish a resistance level.
Google the terms and you will find plenty of examples and definitions.
-HBG
Trade the market you see - not the market you hope for!
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Last
$66.23 |
Change
0.920(1.41%) |
Mkt cap ! $12.84B |
Open | High | Low | Value | Volume |
$66.17 | $66.32 | $65.43 | $18.77M | 284.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 500 | $66.07 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$66.23 | 99 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 66.070 |
1 | 337 | 65.980 |
1 | 1901 | 65.910 |
1 | 425 | 65.870 |
1 | 384 | 65.840 |
Price($) | Vol. | No. |
---|---|---|
66.230 | 99 | 1 |
66.250 | 1174 | 1 |
66.280 | 885 | 1 |
66.290 | 1045 | 1 |
66.300 | 656 | 5 |
Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
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