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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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Tom Mullooly on Bullish Support Lines

The Strength of Bullish Support Lines

May 11, 2015 by Thomas Mullooly

Support lines tend to act like brick walls. We learned that from our friend and point and figure charting expert Tom Dorsey. This has proven to be true time and time again. On this video, Tom shows the bullish support line’s power through an example.

Brendan described how the bullish support line is determined on a previous video. If you missed that one, we recommend checking it out. Bullish support lines are a key component to any point and figure chart. They allow us to determine the security’s trend. Securities trading above their bullish support line are considered to be in a positive trend. Securities trading below their bullish support line are considered to be trading in a negative trend. Bad things tend to happen in negative trends, and we believe that (most of the time) it makes sense to avoid making investments in negatively trending securities.

Bullish support lines and point and figure charts are not perfect. If you’re looking for the perfect investment strategy, good luck. There aren’t any. However, we believe focusing on investments in positive trends is a great way to stack the odds in your favor.

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Filed Under: Videos, Chart School, Technical Analysis Tagged With: point and figure, support lines

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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