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Online Share Trading

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resistance

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TheoPrinsloo
Contributor
Can one of you TA experts please tell me how you determine the resistance level for a specific share. Is there a specific period (history) of closing prices that you use to draw the line? Thanks.
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10 REPLIES 10
jack12
Super Contributor
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john_1
Super Contributor
the point at which it previously turned...restance = most recent high
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TheoPrinsloo
Contributor
Thanks. Do you guys do your TA with another tool or are the charts in OST good enough. If you use another tool please suggest one?
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john_1
Super Contributor
Amibroker..
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jack12
Super Contributor
Nah, I use OST but the recomend share magic, it is in the menu under price charts.
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Not applicable
Thanks for the link Jack12, i am more of a investor, but always keen to learn about the TA side of things
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Not applicable
It's basically a trend line that touches few (at least 3) previous high on chart. It just debend on how you looking at you share, i.e. short term or long run.
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jack12
Super Contributor
You are welcome
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Kompete
Occasional Contributor
For basic analysis I also use the in house chart program, but prefer Amibroker. Incidently, can anyone suggest a good TA text book? Thanks
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jack12
Super Contributor
Check the previous link, this also is quite helpfull. The stockteacher.com book is also good, and then a load of others that boogle the mind. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis
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