RE: 38.7 paid7 Feb 2022 19:24
Hedge,
Go on trading view or down load the app. It’s free. Switch to detailed chart. Change the view to candles and set chart to weekly or monthly. Go back in time in the chart and look for the peak of the candle wicks. These price levels (candle peaks) are previous resistance. The more times that price has acted as resistance, the more significant it is. Assess over daily, weekly and monthly chart view for a more balanced opinion.
Remember, resistance can become support once surpassed and vice versa. Breaking a significant resistance level is a result but not as significant as closing above resistance at which point one would hope that resistance then acts as support in an up trending stock.
Trust this helps.