Inside this analysis you can find the companies that showed the Resistance Breakout Chart Patterns appeared today.
Resistance is an area in which the price, after a rise, has been pushed down several times, reversing its direction.
So when the price rises above this area, which previously rejected it, it can have a bullish push and continue its positive trend.
How do I know if it’s a false breakout?
The breakout is defined as “false” when the positive trend that supported the price growth reverses the direction (going from positive to negative). To understand when this event occurs, there is a red half-line in the chart that indicates the level below which the positive trend can be considered concluded.
A few negative days are not enough to call it a “false” breakout because often the cause is natural temporary volatility (given by the retest of the signal level or profit taking or general market crash).
This analysis is for informational purposes only and does not constitute investment advice.
Tesla Inc (TSLA)
Autodesk Inc (ADSK)
American Tower Corp (AMT)
SBA Communications Corp (SBAC)
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