StockFetcher Forums · Filter Exchange · Support and Resistance<< >>Post Follow-up
wamphraywater
58 posts
msg #27558
Ignore wamphraywater
7/24/2003 11:25:51 PM

How does one determine the the Support and Resistance points of a stock at any given time.....I have seen two sites show different numbers on a stock for the same day.
Thanks.


marauder
6 posts
msg #27560
Ignore marauder
7/25/2003 1:18:09 AM

A support/resistance calculator is available at

http://tfms.webhost4life.com/DB/Members/stockcalc.aspx

with the following explanation:

"Pivot points are calculated by taking the sum of the prior day's high, low, close and today's opening price and dividing it by four. This gives you a single average number. The four other points (1st support, 2nd support, 1st resistance, 2nd resistance) are arrived upon by either adding or subtracting this number from other numbers in the series. Floor traders who use the pivots will generally be bullish if price is above the pivot point. This might be expressed in buying more aggressively then selling (remember that most floor traders are essentially market markers and are willing to transact either long or short in any given area)."


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