You have to look at the big companies, and see how those companies are behaving. And if those companies break down, then the market is going to break down because they are the leading companies, they lead the market, and generally, if they move up, the market moves up, and if they move down, the market moves down. And this is simply because these companies is where all the money is because a lot of people are trading them. These are companies such as Facebook, Google, Apple, Amazon, etc.
We’ll talk about pullbacks. Pullbacks are a great buying opportunity because later things can move much higher. The market, in general, continues to go higher; however, pullbacks are necessary for the health of stock and for that stock to continue moving up. That’s why I like it when stocks pull back.
Also, we’ll talk about support and resistance levels, we’ll evaluate volume and price, look for trend lines and patterns in the charts, and try to predict the future movements of the stocks.
#reviewingcharts #stockcharts #technicalanalysis #stockanalysis #chartanalysis
Posted at: https://tradersfly.com/blog/ep-149-reviewing-stock-charts/
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