Stock Price Charts

Question for a technician about stock charts.?

What does it tell you when a stock keeps on jumping back to a certain price. For example, stock Y's 52 week low is $90 and and has a high of $360 It current price jumps down to $90 (intraday) but for the last week has been consistently closing above $100. Then today it closes at $110, in line with the broader markets' 10 % gain. Is this a support level and means that it now moves further? I now the fundamentals for this company are good and it should beat earnings forecast, but I want to get some technical indicators. Thanks

Public Comments

1. without actually looking at the chart it is hard to say but from your description it does sound like a support level. if fundamentals are indeed good, then i would guess it might well move substantially higher.