A note: $BARD broke through the 0.13 level.
People often ask how to interpret whole-number price levels. This is how I see it.
The more times a price level is tested, the more significant it tends to become in people’s minds. However, some believe repeated tests can also use up the orders resting at that level.
When a price returns to a level after a long time away, people who entered around that price before may sell to break even or add to their positions, so trading activity often picks up.
Comparing several data points is more reliable than looking at just one, but even more signals can’t provide a definitive answer.
People often ask how to interpret whole-number price levels. This is how I see it.
The more times a price level is tested, the more significant it tends to become in people’s minds. However, some believe repeated tests can also use up the orders resting at that level.
When a price returns to a level after a long time away, people who entered around that price before may sell to break even or add to their positions, so trading activity often picks up.
Comparing several data points is more reliable than looking at just one, but even more signals can’t provide a definitive answer.