fokane
74 posts
msg #52833
- Ignore fokane |
7/6/2007 2:51:55 PM
I know there are some really knowledgable people on this forum, i hope you can offer some insight into this..
If I am filtering for stocks hitting a horizontal line of resistance, what information can I look for that will help me determine if the price will break through resistance or bounce off resistance? (i.e. to go long or short)
(examples from today are CSCO and XOM)
Are there any clues from volume, the intra-day chart etc?
TIA
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nikoschopen
2,824 posts
msg #52835
- Ignore nikoschopen
modified |
7/6/2007 4:03:06 PM
Look for a higher high (oops, that should be a higher low, eg. ascending triangle) with increasing volume. But the best way to play the resistance is not to play at all. That is, you're better off waiting until the stock either breaks out or breaks down and then jump aboard the moving bandwagon.
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