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Get Schooled in Technical Analysis Basics EP.1: Support & Resistance Beginners' guide to technical analysis, with host Zachary Musso, a.k.a. ZMoose...and special appearance by's Jeffrey Lin. Technical analysis is understanding the mechanics of the market to know how the market works and what it will do. Like the mechanics of a car, understanding the mechanics of the market is learning how the different parts work together to make the market move one way or another. Why do these patterns happen with the price of a stock? The market does what Big money wants to do. Mutual funds, pension funds, hedge funds, big banks like JP Morgan Chase, and yes, even countries! They are the ocean and they make the motion, we're just along for the ride. SUPPORT: a price level that the stock tried to cross below, but ultimately stayed above. Example: Ever try bidding for hot concert tickets, you low ball your bid tryin to get lucky, and it doesn't work! Someone always outbids you because they're willing to pay up for it! That's whats happening here. Someone with a lot more money than you wants Goldman Sachs at $156.86. Want it cheaper? Sorry! $156.86 is where they've decided to buy and will keep buying until they've got all they've want. RESISTANCE: price level that the stock tried to cross above, but could not. Example: You got your concert tickets, but you never wanted to see the just wanted to sell the tickets higher for some cash. you go on ebay and try to sell them for $179, but u don't even get 1 bid! You see, right there below your product, Ticketmaster has a ton of the same tickets for sale for $169! Who in their right mind would buy your $179 tickets when they can get as much as they want for $169! Ticketmaster here is the Big Money, and they said $169 is the highest it'll go for now- $169 is resistance. **Follow ZMoose on twitter at **ZMoose's blog: **SPONSORS: - 1000's of Hours of Seminars by Professional Traders on Demand **SPONSORS: - Scan and get alerts for patterns like Support & Resistance and much more! It's like having a 1000 pair of eyes on the market. **Disclaimer: This video is for education and entertainment purposes only and not a recommendation to buy or sell any equity.
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