"there is huge resistance in the $1.80s"
When people say things like this, it always makes me wonder what shows that indication of resistance (or support in the reverse, and all I have ever found it they mean "nobody is putting in buy orders above that price at this time".
Aren't "resistance" and "support" just artificial and fleeting constructs around describing the market not willing to buy or not willing to sell at particular price points, quantified by current buy and sell orders?
But what I want to know is what makes it "huge" - how can you see "huge" resistance in the $1.80s? My tea-leaf reading of the buy and sell orders does not reveal anything special about $ 1.80 right now.
$2 PARTY, page-11314
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| Open | High | Low | Value | Volume |
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| 6 | 99232 | $1.71 |
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|---|---|---|
| $1.72 | 35173 | 5 |
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