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Trendlines - Technical Analysis from A to Z
One of the basic tenets put forth by Charles Dow in the Dow Theory is that security prices do trend. Trends are often
measured and identified by "trendlines." A trendline is a sloping line that is drawn between two or more prominent points
on a chart. Rising trends are defined by a trendline that is drawn between two or more troughs (low points) to identify
price support. Falling trends are defined by trendlines that are drawn between two or more peaks (high points) to
identify price resistance.
Trends - Technical Analysis from A to Z
A trend represents a consistent change in prices. Trends differ from support/resistance levels in that trends
represent change, whereas support/resistance levels represent barriers to change. A rising trend is defined by
successively higher low-prices. A rising trend can be thought of as a rising support level. The bulls are in
control and are pushing prices higher.
Trendlines - Technical Analysis from A to Z