Related Topics
Trading , Stocks , ETFs
Share This Page         

How to Easily ID Support and Resistance on Your Charts

See an example in the chart of Bank of America (BAC)

by Debbie Hodgkins
Updated: January 23, 2017

You've probably heard the terms "support" and "resistance." Common technical analysis terms, they are price points on a chart that can help determine when a move will pause, or even stop and reverse.

There are many different ways to identify support and resistance on your charts. In this 6-minute lesson, the editor of our Trader's Classroom education service, Jeffrey Kennedy, shows you one of the easiest and most effective methods (example: Bank of America, NYSE: BAC).

The Free Elliott Wave Tutorial

Learn how you can apply the Wave Principle to improve your trading and investing in this free 10-lesson tutorial. You'll learn:

  • What the basic Elliott wave progression looks like
  • Difference between impulsive and corrective waves
  • How to estimate the length of waves
  • How Fibonacci numbers fit into wave analysis
  • Practical application tips for the method

3 Ways the Elliott Wave Principle Enhances Your Trading

You Asked. We Answered. (June 2017 "Video Mailbag" Episode.)

What Trading Opportunities Does the Wave Principle Identify?

Have You Taken These 4 Simple Steps to Improve Your Trading?

When Is The Right Time To Exit a "Good Trade"?

The 5 Fatal Flaws of Trading

Pinpoint Where You're Wrong

The "Personality" of Stock Market Waves