I'm stating for the record that I have massive resistance in AAPL at 61.98 Could wind up being the LT high.
I'm sorry, I'm a retard. What does 'massive resistance' refer to in the above post? Could somebody put what he said into laymans terms for me please?
At this moment DF, "massive" means "not so good". Yikes. I had a fib extension based off the 97-2000 move that I overlayed onto the 03-present. They work well. Not always to the dime. However the mkt is so strong most any component (particularly AAPL) is not looking like a great short.
ack, i didn't want to hi-jack with my ignorance...but what i meant was, what does the term 'resistance' mean...i realize that massive was just an adjective to describe how much resistance...but what does 'resistance' mean? and specifically, what does it mean to 'have massive resistance' in a stock? end hi-jack
Of course now that the hod is 62.21, even if today represents the peak for quite some time, your call sucks and clearly wasn't even close. I mean anyone can come within two bits.... jeez.
Welcome to ET Degen'. Resistance is a topic that has been discussed a number of times on some excellent threads here at ET, and is included as a topic of discussion in most if not all books on technical analysis. Use the Search function to pull up tons of great information about resistance and a lot of the other topics you'll need to know about before you begin trading. Good luck.