As of 05/24/2024
  Indus: 39,070 +4.33 +0.0%  
  Trans: 15,083 +74.08 +0.5%  
  Utils: 926 +1.92 +0.2%  
  Nasdaq: 16,921 +184.76 +1.1%  
  S&P 500: 5,305 +36.88 +0.7%  
YTD
 +3.7%  
-5.1%  
 +5.0%  
 +12.7%  
 +11.2%  
  Targets    Overview: 05/13/2024  
  Up arrow41,000 or 38,500 by 06/01/2024
  Up arrow16,050 or 15,300 by 06/01/2024
  Up arrow960 or 900 by 06/01/2024
  Up arrow17,250 or 15,850 by 06/01/2024
  Up arrow5,500 or 5,100 by 06/01/2024
As of 05/24/2024
  Indus: 39,070 +4.33 +0.0%  
  Trans: 15,083 +74.08 +0.5%  
  Utils: 926 +1.92 +0.2%  
  Nasdaq: 16,921 +184.76 +1.1%  
  S&P 500: 5,305 +36.88 +0.7%  
YTD
 +3.7%  
-5.1%  
 +5.0%  
 +12.7%  
 +11.2%  
  Targets    Overview: 05/13/2024  
  Up arrow41,000 or 38,500 by 06/01/2024
  Up arrow16,050 or 15,300 by 06/01/2024
  Up arrow960 or 900 by 06/01/2024
  Up arrow17,250 or 15,850 by 06/01/2024
  Up arrow5,500 or 5,100 by 06/01/2024

Bulkowski's Southern Company (SO) Support/Resistance Quiz

Released 4/1/2022.

SO: Quiz

Below is a support and resistance quiz. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.


1 / 2
chart pattern

Price has hit bottom and will rise. Where will it stop?

The answers are on the next slide.
2 / 2
chart pattern

Red lines show where price stopped moving up to the right of the blue line and the green lines show where price found support moving down.

One way to predict where price will pause is to look for "mirrors." These are reflections across an imaginary line, such as the blue one drawn here. The two circles represent the left and right shoulders of a head-and-shoulders bottom. The valleys are mirrors of one another. By assuming another valley will appear at about the same price and distance from the head, you can plan your trades accordingly.

Mirrors also work with trendlines. The distance from the trendline to the peak is supposed to equal the decline after price punches through the trendline (and the reverse). It's not an exact science and it's the measure rule for trendlines.

The End.

See Also

 
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