On the way down, a resistance level is (often hopefully) called a support level.
This week, the Dax violated my key support level at 7, 500 and closed below it.
The 38.2% Fibonacci retracement support is at 532.80, with the 50% support level at 520.60.
That area is just above the support level that triggered the waves of selling in gold last week.
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Bullish investors will be rooting for RIMM to hold above this key support level through the close today.
Fresh chart damage was inflicted Wednesday as prices dropped below a key support level at the November low.
In a statement, Woodle said Second Mile is working with donors and others to determine its projected support level.
This correction held above the 61.8% Fibonacci retracement support level, which was point 2 of the double-bottom formation.
And on the way down, a resistance level is--often hopefully--called a support level.
So far, the futures are holding above the 61.8% support level at 1291.50.
These two bottoms form a support level weak as it might be.
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However, with revenue estimates likely to come down, we believe there could be a temporary dip below this support level.
The 50-day moving average of the Dow combined with the support level is creating a descending pendant pattern.
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Also, interesting to note, the October sell-off stalled at the 61.8% Fibonacci retracement support level, seen on Figure 1 below.
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While this support level may hold, as market participation thins heading into the weekend we could yet see some volatile moves.
The next tier of support, the Premier Support level, is aimed at enterprise customers who want a "managed support relationship, " Johnson said.
Then, each time we seem set to break that crucial support level at 1040, pressures eases and we get a meager bounce.
That is now the important near term technical support level to watch.
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The Dow Industrials have just tested their 38.2% Fibonacci support level at 13, 041, which makes it a pretty normal correction so far.
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These divergences then must be confirmed by a move in the RSI below a significant support level or above a key resistance level.
The key support level to watch is at 4850 as a weekly close below this level would confirm a new downtrend in the Transports.
Besides using the limit order to go short near a resistance, you can also use this order to go long near a support level.
The next daily sell signals should be followed by a correction back to the 38.2% to 50% support level, where additional buying can be done.
Students of Fibonacci analysis know that it is typically the violation of the 61.8% resistance or support level that confirms a rally is over.
But back to the point, I also really try to avoid stocks that have recently broken below and have stayed below any type of support level.
"If you are looking for a support level for the onshore yuan, just look at the offshore market, " said a Shanghai-based trader with a foreign bank.
After a gap is filled, the stock is presumed to enter a support level and based on the traditional technical analysis should not fall much farther.
The 200-day is a major, major support level, so its important to see how a stock or index handles a break of it over the subsequent 1-3 days.
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Place a stop-sell order a few pips below the support level so that when the price reaches your specified price or goes below it, your short position will be opened.
In this case, you can place a limit-buy order a few pips above that support level so that your long order will be filled when the market moves down to that specified price or lower.
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