test


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Test

The event of a price movement that approaches a support level or a resistance level established earlier by the market. A test is passed if prices do not go below the support or resistance level, and the test is failed if prices go on to new lows or highs.

test

The attempt by a stock price or a stock market average to break through a support level or a resistance level. For example, a stock that has declined to $20 on several occasions without moving lower may be expected to test this support level once again. Failing to fall below $20 one more time would be considered a successful test of the support level and a bullish sign for the stock.
References in classic literature ?
Summerlee serve on such a committee and test his story in person?
I am an aspirant to membership in the palace guard," I said, "and from yonder window in the tower where I was confined awaiting the final test for fitness I saw this brute attack the this woman.
The latter, all the while swearing that he would not go, went on board with a regular arsenal of hunting weapons, among which were two double-barrelled breech-loading fowling-pieces, and a rifle that had withstood every test, of the make of Purdey, Moore & Dickson, at Edinburgh.
The Senator was by no means to undertake my instruction himself; his nephew, who had just begun to read law, was to be my fellow-student, and we were to keep each other up to the work, and to recite to each other, until we thought we had enough law to go before a board of attorneys and test our fitness for admission to the bar.
It was not accomplished without a few tumbles, and Tip really worked harder than he ever had in the fields or forest; but a love of mischief urged him on, and it pleased him to test the cleverness of his workmanship.
The ape-man gently tested the strength of the bonds that held him, and while he could not be sure it seemed that they were of insufficient strength to withstand the strain of his mighty muscles when the time came to make a break for freedom; but he did not dare to put them to the crucial test until darkness had fallen, or he felt that no spying eyes were upon him.
An iron that stood the ordinary test of a wet finger was too cold for Joe and Martin, and such test was useless.
To test the intensity of the light whose nature and cause he could not determine, he took out his watch to see if he could make out the figures on the dial.
Another time, when Ernest had just said that the metaphysical philosophers could never stand the test of truth, Dr.
He had described it as the address at which he might be heard of--and Blanche entreated me, before we started for London, to put the reference to the test.
We were saying, as you will remember, that they were to be lovers of their country, tried by the test of pleasures and pains, and neither in hardships, nor in dangers, nor at any other critical moment were to lose their patriotism--he was to be rejected who failed, but he who always came forth pure, like gold tried in the refiner's fire, was to be made a ruler, and to receive honours and rewards in life and after death.
Whatever maketh them rule and conquer and shine, to the dismay and envy of their neighbours, they regard as the high and foremost thing, the test and the meaning of all else.