Support at the 50% Float Channel Line

2. Support at the 50% Float Channel Line
(ABC LONG Float Set-Ups)
Once a stock's price moves above the float turnover at the bottom, it will at some point come under selling pressure and move lower.  It might find support at any of its float channel levels.  One very common place to find support is the 50% float channel line as is seen in the example below.  Notice that after both the breakout and the support at the 50% float channel line, there was a follow through day.