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 periodicals archive ?
We are being extremely vigorous in our outreach because we are testing the waters.
Others are testing the waters as well, says Robbins, who co-edits the SLED Picayune, an educator's "in-world" newspaper.
In an effort to raise public consciousness, the group also released its annual Testing the Waters guide discussing beach closures.
Testing the waters, in a sense, with the tuner crowd.