Oxford Biomedica. 2005 to see 'Huge value creation' (Panmure Gordon)

A good analyst can detect repetitive patterns of crowd behaviour on his charts *CARDS* and exploit them.

SUPPORT AND RESISTANCE.

A ball hits the floor and bounces. It drops after hits the ceiling. Support and resistance are like a floor and ceiling, with prices sandwiched between them. Understanding support and resistance is essential for understanding price trends and chart patterns. Rating their strength helps you decide whether the trend is likely to continue or to reverse.

SUPPORT-

is a price level where buying is strong enough to interrupt or reverse a downward trend. When a downtrend hits support, it bounces like a diver who hits the bottom of the pool and pushes away from it. Support is represented on a chart by horizontal or near-horizontal line connecting several bottoms.

RESISTANCE-

Is a price level where selling is strong enough to interrupt or reverse an up trend. When an up trend hits resistance, it stops or tumbles down like someone who hits their head on a branch when climbing a tree. Resistance is represented on a chart by a horizontal or near-horizontal line connecting several tops.