What is causing the resistance?
The following is the chart for AAPL from Yahoo Finance. The chart says that the resistance level is 4.84. What is causing this resistance? Is it caused by big investors who have made a collective decision not to buy AAPL shares more?
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Resistance occurs when supply is strong enough to stop a stock's upward movement. It's declared to be resistance when there are multiple touches of small price range without a significant breakthrough of that price and each touch is followed by a modest retracement in price.
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