The Price Magnet

If you do a $GOOG search on – “price magnet” in trading – you will be presented with 126K hits. A lot of interesting results there so feel free to poke around if curious on this common event in stock price movement.

I notice this event in a lot in charts, and one caught my eye today while reviewing the Weekly chart of $ANF:

ANF_weeklyOne point to make here is this: price certainly attracts back to this price area, but it doesn’t like to overstay its welcome. Trade accordingly.

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