Near a support level (sitting on a price it has bounced off before)

What is a support level?

A support level is a price a share has repeatedly stopped falling at — a floor it has come down to before and bounced off. Nothing here is drawn by hand: stocks-llm looks back over a company's own daily closing prices, finds its turning points — the days it made a local high or a local low — and groups the ones that happened at close to the same price. A group counts as a level only when the share turned there at least 2 separate times, because one turn is an incident rather than a level. A share trading just above one of its own support levels is at a price that has held it up in the past, which is why chart-watchers look for them; whether it holds again is a different question and this screen does not answer it. The honest reason a level is worth knowing about is ordinary rather than mystical: it is a price a lot of people can see on the same chart, so buying and selling orders tend to cluster around it.

How do I read the Near a support level (sitting on a price it has bounced off before) screen?

This screen lists companies whose latest close sits just above one of their own support levels — the nearest ones first. "Near" means within 1.5% of the level. That is not a round number picked for the screen: it is the same tolerance used to decide that two turning points happened at the same price in the first place, so a share inside it is at the level by the same standard that built the level. Each row names the level's price, how far above it the share closed, how many times it has turned there and the first and last dates it did, so the claim can be checked against the chart. Three honest limits. A price arriving at a level is a description of where it is, not a prediction that it will stop there — plenty of shares go straight through, and a level that breaks often becomes the opposite kind afterwards. The levels are computed from delayed daily closing prices, so they are zones rather than exact numbers. And a level says nothing about why the price is there: a company arriving on news is in the same list as one that drifted. Nothing here is advice.