If support is broken, that will likely become the new level of resistance. Alternatively, if resistance is broken to the upside, it can form the basis for support in the short term. The Bottom Line ...

Many traders who use technical analysis hear phrases that suggest a "broken support level will become a future area of resistance" or that a "previous level of resistance will become a support ...

The Fibonacci Support and Resistance Levels become relevant when the stock’s price approaches one of the Fibonacci lines. If the stock falls below the line or fails to break past resistance ...

Support and resistance levels also become stronger the more times the market bounces off them. This phenomenon can turn a minor resistance level into a major one over time if it manages to rebuff ...

In fact, major levels of support and resistance can often become psychological barriers, with many traders buying or selling as soon as that level is reached - which serves to reinforce the effect. It ...

For example, fakeouts occur when prices open beyond a support or resistance level, but by the end of the day, they wind up moving back within a prior trading range.

SPX Support, Resistance Levels to Consider Post-Rally April 29, 2024 — 09:54 am EDT. ... and what was a headwind could become a tailwind. ...

Breaching — and closing above — big round numbers in equity indices inevitably encourages optimists to hope that what was considered resistance can become support. Partner Center Most Popular ...