As of 08/12/2022
  Indus: 33,761 +424.38 +1.3%  
  Trans: 15,147 +74.16 +0.5%  
  Utils: 1,042 +15.91 +1.6%  
  Nasdaq: 13,047 +267.38 +2.1%  
  S&P 500: 4,280 +72.88 +1.7%  
YTD
-7.1%  
-8.1%  
 +6.2%  
-16.6%  
-10.2%  
  Targets    Overview: 07/28/2022  
  Up arrow34,500 or 31,850 by 09/01/2022
  Up arrow16,300 or 14,300 by 09/01/2022
  Up arrow1,075 or 990 by 09/01/2022
  Up arrow13,600 or 12,000 by 09/01/2022
  Up arrow4,325 or 4,000 by 09/01/2022
CPI (updated daily): Arrows on 7/15/22
As of 08/12/2022
  Indus: 33,761 +424.38 +1.3%  
  Trans: 15,147 +74.16 +0.5%  
  Utils: 1,042 +15.91 +1.6%  
  Nasdaq: 13,047 +267.38 +2.1%  
  S&P 500: 4,280 +72.88 +1.7%  
YTD
-7.1%  
-8.1%  
 +6.2%  
-16.6%  
-10.2%  
  Targets    Overview: 07/28/2022  
  Up arrow34,500 or 31,850 by 09/01/2022
  Up arrow16,300 or 14,300 by 09/01/2022
  Up arrow1,075 or 990 by 09/01/2022
  Up arrow13,600 or 12,000 by 09/01/2022
  Up arrow4,325 or 4,000 by 09/01/2022
CPI (updated daily): Arrows on 7/15/22

Bulkowski's Tredegar (TG) Trading Quiz

Released 3/30/2022.

TG: 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 / 4
chart pattern

Price is about to drop on the weekly chart shown above, but it won't drop in a straight-line run.

Question: Where are the support and resistance zones, that is, at what price will the stock turn or pause?

The answers are on the next slide.
2 / 4
chart pattern

The vertical green line is where the prior chart ends. Blue lines are support zones and red lines are overhead resistance. I show them by connecting the peaks and valleys to the right of the green line and extending them to the left.

I drew circles (not all) where price nears the red or blue lines as peaks or valleys, just to show the SAR (support and resistance) regions. SAR often is not a single price but a range of prices. Notice how close together the top and bottom two blue lines are (two at 16 and two near 12).

Continued on next slide.
3 / 4
chart pattern

Here's another chart. Price is about to rise.

Question: Where will it pause? Mark overhead resistance and underlying support areas.

The next slide shows what happened.
4 / 4
chart pattern

Again, the green line marks the old chart from the new. I added two chart patterns to the mix. Sometimes chart patterns will act as support or resistance locations. Blue lines align with minor lows to the right of the green line, red lines align with peaks. Notice how one resistance zone becomes a support zone (the closeness of the two lines), such as lines at 55 and 52, 34 and 33.

The descending triangle cuts through price on the top at A, so I would not call it a triangle. Rather, I consider it a rectangle bottom when joined with B.

The End.

See Also

 
Top of page
 

 

Support this site! Clicking any of the books (below) takes you to Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notices: "As an Amazon Associate I earn from qualifying purchases." Paid links).

My novels:  Bedroom to Boardroom bookBedroom to Boardroom book Remember Me bookRemember Me book Bumper's Story book Head's Law book

Chart Patterns: After the Buy Getting Started in Chart Patterns 2nd edition book Trading Basics book Fundamental Analysis and Position Trading book Swing and Day Trading book Encyclopedia of chart patterns book Encyclopedia of Chart Patterns 3rd Edition book Trading classic chart patterns book


Copyright © 2005-2022 by Thomas N. Bulkowski. All rights reserved.
Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.
Some pattern names are registered trademarks of their respective owners.
Home Advertise Contact Donate Links Privacy/Disclaimer