The Foundation of Technical Analysis

Support
is the area where a stock that has been declining is likely to stabilize then bounce off and move higher (at least temporarily). It is like a floor.

Resistance
is the zone where a rallying stock is likely to run into trouble (at least temporarily) and then turned back.The more times the given resistance area is tested, and the longer the time period involved, the bullish is given when the resistance zone is eventually overcome.

Trading Range
is the neutral zone in the ongoing battle between buyers and sellers.

Moving Average (MA)
is an indicator frequently used in showing the average value of a security’s price over a set period. Moving averages are used to emphasize the direction of a trend and to smooth out price fluctuations. Moving averages are generally used to measure momentum and define areas of possible support and resistance.

Breakout
when the price of a stock moves above the top of its resistance zone.

Breakdown
when the price of a stock moves below the bottom of the support zone.

Pullback
After a stock breaks out of its trading range and advances, there is at least one profit-taking correction that brings the price of the stock back close to the initial break point. This is an ideal to do further buying especially if it occurs on decreased volume. On the other hand, after a stock breaks down below support and declines, there is usually at least one pullback back up toward the breakdown level. This is an ideal entry point to sell the stock.

Trendline
A line that is drawn over pivot highs or under pivot lows to show the prevailing direction of price.

Uptrend
Simply the series of higher peaks and higher lows on a given stock.

Downtrend
simply the series of lower peaks and lower bottoms on a given stock. 

Technical Analysis is also used in Forex Trading and Cryptocurrency Trading.