Finding Support Line

Hello,

This may be a little much, or maybe not for some of the wonderful wizards here. But I wanted to add automatic support line in this stock chart.

Update:

Hey, sorry guys for the vague task.

Essentially what I was looking to accomplish was generating lines for support. Mainly this means looking at the data I placed, which is 1-2 years of daily stock prices and creating a formula or set of formulas to find those areas that the stock continues to bounce off of.

I think best way is to explain via example, which I placed inside the excel. It is a chart of Chevron. Somehow they are noticing automatically that the $95 level is an area that the price continues to hit.

Is there a way to do that automatically with the data I gave?

I haven't the faintest idea what you want. Your sheet contains nothing by way of guidance, either. If you want an answer... we really do need to know what the question is.....

A description and some specific rules, please???

What is an 'automatic support line'?

Originally Posted by Number7stunner

Somehow they are noticing automatically that the $95 level is an area that the price continues to hit.

There are many people on the forum that understand Excel, but not many that understand stock trading, so 'Somehow' doesn't give us enough to work with.

You need to explain how / why $95 is the correct value to work from so that we can understand the logic, especially given that the line in your second chart appears to be set at $97.50

I did find some information on google for support and resistance lines, but not anything that I could make sense of.