Anyone buying on the crisis dip?

@athena 

I don't want you to lose money, so don't hold back any questions. 

A support level is a level where the price tends to find support as it falls due to an increase in demand for the asset. This means that the price is more likely to "bounce" off this level rather than break through it. However, once the price has breached this level, by an amount exceeding some noise, it is likely to continue falling until meeting another support level.^[2]

A resistance level is the opposite of a support level. It is where the price tends to find resistance as it rises due to an increase in selling interest. Again, this means that the price is more likely to "bounce" off this level rather than break through it. However, once the price has breached this level, by an amount exceeding some noise, it is likely to continue rising until meeting another resistance level.

Posted by: @athena

@zexsypmp23 what do you mean by "broken the support"? I use etrade and merrill lynch.

I'll give u a example. look at the macy stocks = M

it's around 21.81 right now 3/7/22 

the support for Macy is 21.55 & 21.11. 

Posted by: @zexsypmp23

Posted by: @athena

@zexsypmp23 what do you mean by "broken the support"? I use etrade and merrill lynch.

I'll give u a example. look at the macy stocks = M

it's around 21.81 right now 3/7/22 

the support for Macy is 21.55 & 21.11. 

 

 

once the support is broken the macys stock can fall below $21.11 to $20.29 to $18

Posted by: @zexsypmp23

Posted by: @athena

@zexsypmp23 what do you mean by "broken the support"? I use etrade and merrill lynch.

I'll give u a example. look at the macy stocks = M

it's around 21.81 right now 3/7/22 

the support for Macy is 21.55 & 21.11. 

 

 

The resistance for the M stock is 28.25 ( 1st resistance) 37.95 ( last resistance). Once the last resistance is broken. the M stock will go up massively. 

back to what you said "most stocks have broken the support". Did you mean that most stocks are still falling?