marauder
6 posts
msg #27560
- Ignore marauder |
7/25/2003 1:18:09 AM
A support/resistance calculator is available at
http://tfms.webhost4life.com/DB/Members/stockcalc.aspx
with the following explanation:
"Pivot points are calculated by taking the sum of the prior day's high, low, close and today's opening price and dividing it by four. This gives you a single average number. The four other points (1st support, 2nd support, 1st resistance, 2nd resistance) are arrived upon by either adding or subtracting this number from other numbers in the series. Floor traders who use the pivots will generally be bullish if price is above the pivot point. This might be expressed in buying more aggressively then selling (remember that most floor traders are essentially market markers and are willing to transact either long or short in any given area)."
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