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Politics : Formerly About Applied Materials
AMAT 319.11+5.7%Jan 15 3:59 PM EST
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To: Gottfried who wrote (29813)4/29/1999 6:03:00 PM
From: JRobinson  Read Replies (1) of 70976
 
>>Duker, please at least try to understand resistance. It works often.
If a stock price has [preferably repeatedly] gone down to a certain level and then turned up, that means sellers were done selling. If some of the the same investors still hold the stock, they more often than not will hold if the stock goes down to resistance again.If it goes below resistance, the holders may now become sellers
and it's a new ball game. It is all based on psychology.<<

I believe when you say resistance, you mean to say support. Support is what is below a stock price, and as you say, it is a price area that has historically "held". Resistance acts the same way, except on the upside. A breach of support usually leads to lower prices. A breakout through resistance often leads to higher prices. Volume is key on a break through resistance. However, a stock can fall through support on low volume, a little bit each day. It's like death by a thousand cuts.
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