Stock Of The Day: Is JPMorgan About To Head Lower?
Stock Of The Day: Is JPMorgan About To Head Lower?
Many practitioners misunderstand technical analysis. They look for patterns on charts without understanding the price action that makes these patterns form.
許多從業者誤解了技術面分析。他們尋找圖表上的形態，卻不了解這些形態的形成是由價格行爲所驅動的。
If understood and applied correctly, technical analysis is the study of supply and demand and trader psychology. One of the most important aspects of the analysis is identifying important price levels. As you can see on the chart of JPMorgan Chase & Co. (JPM: NYSE), the $205 is certainly one of them. That's why it's our Stock of the Day.
如果技術面分析理解和應用正確，它研究供需和交易者心理學的理論。分析的最重要的方面之一是確定重要的價格水平。正如您在 JPMorgan Chase & Co.（JPM: NYSE）的圖表上看到的，$205 當然是其中之一。這就是爲什麼這是我們每日股票的原因所在。
As you can see on the chart, in May this level was resistance. Before reaching it, buyers had to take the price higher in order to get sellers interested. But when the shares reached $205 the sellers overpowered the buyers and knocked the stock lower.
如圖所示，在五月份這個水平是一個阻力。在到達它之前，買家必須將價格上漲以引起賣家的興趣。但當股票達到 $205 時，賣家壓倒買家並將股票價格打低。
In early July the resistance broke and the stock moved higher. Then there was some profit-taking which forced the price down and $205.00 turned into a support level.
在七月初，阻力被打破，股票上漲。然後有一些獲利回吐，迫使價格下降，$205.00 成爲支撐位。這是因爲很多以 $205.00 出售股票的交易者和投資者在股價上漲時後悔自己的決定。其中一些後悔的賣方決定回購他們的股票。
This happened because many of the traders and investors who sold at $205.00 came to regret their decision to do so when the price went higher. A number of these remorseful sellers decided to buy their shares back.
但是他們只會在以相同的價格購買它們時才會這樣做。因此，他們在 $205 左右下單購買。由於這些訂單數量衆多，它們將原來的阻力轉化爲支撐位。
But they would only do so if they can purchase them for the same price they were sold at. As a result, they placed buy orders around $205. And there were so many of these orders that it converted what was resistance into support.
然後在 8 月 1 日，股票突破了支撐位並下跌。當這種情況發生時，許多以 $205 購買股票的交易者和投資者後悔他們的決定。許多這些後悔的買方決定出售他們的股票，但只有當他們不會虧損時才會這樣做。因此，現在股票回升到這個重要的水平，這些後悔的買家正在下賣單。
Then on Aug. 1, the stock broke the support and the price moved lower. When this happened, many of the traders and investors who bought shares at $205 came to regret their decision to do so.
由於賣方後悔出售股票，當價格上漲時，他們會回購股票。許多人會在達到 $205 時候放置買單以回購股票。由於訂單衆多，這導致 $205 成爲了支撐位。
Many vowed to get out of their positions in JPMorgan, but only if they could do so without losing any money. So, now that the shares have rallied back up to this important level, these remorseful buyers are placing sell orders.
由於多數交易者和投資者認爲該水平是重要的價格水平，所以當它們到達該水平時，股票往往發生反轉。這可能導致精明的交易者獲利。在摩根大通結賬之前，要認真分析您的訂單。
And there are so many of these sell orders that the level that had been support has converted back into a resistance level.
現在，由於賣單衆多，原先的支撐位已轉化爲阻力位。如果您想要賣出，請謹慎考慮價格水平。
One of the most important aspects of technical analysis is identifying important price levels. Stocks tend to reverse when they reach them, and this could lead savvy traders to profits.
技術面分析最重要的方面之一是確定重要的價格水平。股票往往在到達這些水平時發生反轉，這可能爲有經驗的交易者帶來利潤。