Hi again, so if you take a look at the horizontal line in the chart above, you might realise that it is a support point in the chart(MMM).
What is a support point? Well, it is actually an indication that tells you if the company is going to go higher or lower. But there is still a chance that the market might break the support point, just like a resistance point, so don't always rely on it!
How to identify one:To identify a support point, you have to see if there is a point where the stock market constantly bounces off on a certain period of time. And you can use a horizontal line to indicate it like what I did in the chart above
I hope you find this useful!
What is a support point? Well, it is actually an indication that tells you if the company is going to go higher or lower. But there is still a chance that the market might break the support point, just like a resistance point, so don't always rely on it!
How to identify one:To identify a support point, you have to see if there is a point where the stock market constantly bounces off on a certain period of time. And you can use a horizontal line to indicate it like what I did in the chart above
I hope you find this useful!
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