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Devi Sampath, , Dow Theory, [LT-LB= Sell], 2- 3 weeks trend, bottom- lower bottom, Demand, demand zone, Entry, HB-HT =BUY, Line chart, Stop Loss, Supply, supply zone., Target, top- higher top, volume, weekly trend
Dow theory- supply zone- S > D = BEARISH = SELL.
demand zone- D > S = BULLISH= BUY.
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Hi,
Please find below the response to your queries
Your Question 1 :: how to calculate support and resistance? Its calculating purpose?
For support and resistance you no need to apply any formula, instead you can take average high price for resistance and average low price for support line.
Support and resistance levels are important points in time where the forces of supply and demand meet. Support is the level at which demand is strong enough to stop the stock from falling any further Meanwhile resistance is the level at which supply is strong enough to stop the stock from moving higher but there is no assurance that the support or resistance will hold.