In relation to technical analysis, a support level is:Question 8Select one:a.a level beyond which the market is unlikely to rise.b.a level below which the market is unlikely to fall.c.an equilibrium price level supported by earnings and cash flows.d.the complete cycle of a market wave.
Question
In relation to technical analysis, a support level is:Question 8Select one:a.a level beyond which the market is unlikely to rise.b.a level below which the market is unlikely to fall.c.an equilibrium price level supported by earnings and cash flows.d.the complete cycle of a market wave.
Solution
In the context of technical analysis, a support level is:
b. a level below which the market is unlikely to fall.
This is because a support level in technical analysis refers to the price level that an asset does not often fall below due to more buyers being interested in it at that price. It's a level where demand is perceived to be strong enough to prevent the price from falling further.
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