Replies to post #756 on World Surveillance Group Inc (fka WSGI)

[d33c4f]

Lowtrade,

"support/resistance points aren't opinions derived from TA,.. "

I'd have to disagree 110% with you there.
Support and Resistance points are precisely what "TA" is about.
They are the fundamental driver of analyzing price patterns

What is "TA" to you?

Every part of it is designed to determine support and resistance formation, strength, momentum etc

If you trust some generated TA site more then the charts you make and use yourself, then maybe you shouldn't study TA.
Notice how those numbers change daily.
They are at best a guideline, but I personally consider them useless

"...they are facts posted in black and white"

If they were fact, everyone would be a perfect trader.

So are you telling me .36 isn't resistance?
We've bounced off it 3 times
GTEL hasn't hit .39 since 2000

I've found support and resistance are best defined by moving averages.
And also using weekly/monthy charts.
(candlestick)
The indicators like rsi/stochs describe the momentum when reaching/breaking a s/r level
Macd is another s/r strength indicator
etc

checkout www.stockcharts.com
A really good site for learning TA

-squ1d