ABSTRACT
This chapter looks at the stock market from a new angle and, in so doing, it helps to develop some very practical additional rules to guide us in selecting stocks for purchase or sale, in estimating their potential moves. It provides Support as buying, actual or potential, sufficient in volume to halt a downtrend in prices for an appreciable period. The chapter explores three criteria—volume, distance away and time elapsed—to be used in assessing the amount of Resistance to be expected at any given level. A Support Level is a price level at which sufficient demand for a stock appears to hold a downtrend temporarily at least, and possibly reverse it, that is, start prices moving up again. There are certain other levels that may, at times, evidently produce considerable Resistance or Support without any reference to a "vested interest."
