Medved Trader user group

[Mr Nasdaq]

Q: What is the relationship between the "Support & Resistance Report" Spreadsheet and a Stock Chart?

A: The purpose of a Stock Chart is to reveal areas of Support (areas where a falling price will stop falling and begin to rise) and areas of Resistance (areas where a rising price will stop rising and begin to fall).

The "Support & Resistance Report" gleans Support Prices and Resistance Prices from a combination of 4 charts (Daily, Weekly, Monthly and "Point & Figure" Charts). It then presents the gleaned prices in a concise and useful manner by sorting them in descending sequence for each individual stock and by highlighting, in purple, areas of concentrated Support (Gathering Support) and areas of concentrated Resistance (Gathering Resistance).

If the price of a stock is falling, then the report is useful for revealing where the price may stop falling and begin to rise (at an area of "Gathering Support").

If the price of a stock is rising, then the report is useful for revealing where the price may stop rising and begin to fall (at an area of "Gathering Resistance").