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:
“For the support of this declaration we mutually pledge to each other our lives, our fortunes, & our sacred honour.”
—Thomas Jefferson (1743–1826)
“In erotic love, two people who were separate become one. In motherly love, two people who were one become separate. The mother must not only tolerate, she must wish and support the child’s separation.”
—Erich Fromm (20th century)
“No one—man or woman—can have it all without support from the workplace and genuine help at home. Women, regardless of how they have chosen to lead their lives, can now breathe a collective sigh of relief that superwoman is dead.”
—Deborah J. Swiss (20th century)