Trendlines for Technical Analysis of Stocks image result
A trendline aids technical analysts in determining market price direction. The trend, according to technical experts, is your friend, and identifying the trend is the first step in making a good trade. An analyst needs have at least two points on a price chart to draw a trendline.
Even if the price moves above a falling trendline, it's still in a downtrend if it makes lower lows and lower highs. Even if the price drops below the trendline, it still has an uptrend if it makes higher highs and lower lows. When day trading, a trendline must be changed frequently.
The trendline of a stock can be read and used to determine probable buy and sell positions. Pull up a stock chart in your trading account. Examine the prices to see if they are rising, falling, or moving in a channel. Before you may build a trendline, at least two price points must contact the line.
Choose a chart.
Click the Plus in the upper right corner of the chart.
Choose Trendline. Note: Excel only shows the Trendline option if you select a chart with
many data series without first selecting one.
Select any data series options you wish in the Add Trendline dialogue box, then click OK.
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