High Probability Support & Resistance Reversal Signals

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Stuart McPhee shares some of his personal favorite support and resistance reversal signals.

As we know, when a stock is in a downtrend, sellers out-number or out-power buyers. In such circumstances, it is normal for the stock to keep making lower Low prices as time passes. This reflects bearish, negative sentiment or outlook for this stock. Now when trading starts for today, this stock opens at a price lower than Previous Day's Low price. This is in line and indicates continuation of the current bearish mood and reflects a further build up of negative sentiment. Now if at some point in time during the session, the stock stages a reversal and starts trading higher. This is likely due to an emergence of fresh demand at current low price of the stock. Now how can we determine that the stock is really staging a reversal?

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Education

Tags:

• support and resistance
• reversal signals
• technical indicators
• reversal trading
• technical analysis