How to read weekly stock charts

These long term stock charts are more useful for analysis of stock market situation then intraday real time stock charts

This setup of live stock charts is useful for my type of trading. I mainly do swing trades or position trades with ETF or stocks. I prepare entry and exit points for my trade on daily charts. But weekly stock charts are important to see bigger picture. My analysis of stock market situation of any stock market ticker is not complete without check of long term stock charts.

I often see that situation on daily chart is not very clear. It is more easy to read stock charts support and resistance levels on some form of long term stock charts.

How to analyze long term stock charts in stock market charting software

I like to find answer to questions like: Is current price near such level? Is there possibility to move to another important level up or down?

Check below how it is easy to read stock charts when they are in bigger time frame.

You will find important levels of support and resistance much easily on weekly stock charts as you can see on examples above and below.

Also if the stock is pulling back from strong support level it can be good to enter long trade. Or if any stock is breaking important level of support of resistance that it can offer very good trading opportunity.

I regularly look for such technical stock charts as they often produce best stock & ETF picks for my stock and ETF trading strategies.

Identification of support and resistance levels can also help with definition of possible target and stop loss level for such trade.

Defining targets and stop loss level is important for money management of my trades. Also you know where to exit the trade.

Return from weekly stock charts to stock chart analysis

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