Support
A support level is a price level where the price tends to find support as it is going down. This means the price is more likely to "bounce" off this level rather than break through it. However, once the price has passed this level, by an amount exceeding some noise, it is likely to continue dropping until it finds another support level.
Read more about this topic: Support And Resistance
Famous quotes containing the word support:
“There are so many intellectual and moral angels battling for rationalism, good citizenship, and pure spirituality; so many and such eminent ones, so very vocal and authoritative! The poor devil in man needs all the support and advocacy he can get. The artist is his natural champion. When an artist deserts to the side of the angels, it is the most odious of treasons.”
—Aldous Huxley (1894–1963)
“‘Tis not enough to help the feeble up,
But to support him after.”
—William Shakespeare (1564–1616)
“Universal suffrage should rest upon universal education. To this end, liberal and permanent provision should be made for the support of free schools by the State governments, and, if need be, supplemented by legitimate aid from national authority.”
—Rutherford Birchard Hayes (1822–1893)