Sentences with phrase «break of support»

While I do think it's severly oversold at this stage and due a rebound the recent break of support at $ 3.20 (see chart below) has seen a significant sell - off as one might expect when a strong support level is broken.

Although some aggressive traders like to sell short the actual break of support, rather than waiting for a bounce, we have learned over the years that such an entry in a short position can be risky because false breakdowns occur rather frequently.

If a convincing break of support occurs, we will then look to sell short $ GLD (or buy $ DZZ) on a subsequent bounce into new resistance of that prior support level.

Since I prefer to sell short stocks and ETFs as they are bouncing into resistance, rather than on their initial break of support, the stalling action of $ EEM as it bounces into resistance of its 50 - day moving average now presents me with an ideal, low - risk entry point on the short side (click here to learn more about my short selling entry strategy).

For breakouts, look for a break of support for ascending channels and a break of resistance for descending channels

While markets are all still holding major support, a break of that support has major negative implications with target at least 4 - 5 % lower and potentially far worse if the larger multi-year topping patterns do indeed play out.

This means that we're watching for a break of support or resistance with the intent of trading in the direction of the break.

A break of support or resistance can lead to a trade setup with the intent of trading in the direction of the break

A break of this support would open up doors to $ 9,300, this would complete the double top chart pattern.

This could either mean that a deeper correction is underway or that a break of support could take place and spur a reversal.

A break of support at $ 0.55, could open doors to a fall, $ 0.45 and then $ 0.25 would be downside targets.