Key levels

What it measures¶

The tile lists five price levels near the latest close and how far the close is from each, as a signed percentage (a plus sign means the close is above the level):

• support (S1) and resistance (R1) — the classic "pivot" levels floor traders computed from the last session's high (H), low (L) and close (C): the pivot P = (H + L + C) ÷ 3, then S1 = 2P − H and R1 = 2P − L;
• the 20-session VWAP — the volume-weighted average price of the last 20 sessions: the average price paid per share traded, so heavily traded days count more;
• the 200-day average — the mean of the last 200 daily closes;
• the 30-week average — the mean of the last 30 weekly closes, Weinstein's line.

Why it is on the page¶

Traders watch these levels, which is part of why prices often pause near them. Placing the close among them shows at a glance whether the price sits near a level many participants are watching. They are the levels the Workspace's earlier technical summary showed, kept on the page in this form.

Thresholds, their source and the population they were fitted on¶

The tile never votes and carries no verdict colour: a level is a reference point, not a test.

• Fitted on: no population — reference levels.
• Evidence grade: not graded; the pivots are practitioner convention.

A worked example¶

Honeywell International, on bars to 23 October 2026: the close was 3.0% above support, 1.9% below resistance, 4.5% above the 20-session VWAP, 4.2% below the 200-day average and 2.7% below the 30-week average.

What “No verdict” means here¶

The tile never has a verdict word. A level that cannot be computed — no volume for the VWAP, fewer than 200 daily bars for the long average — is left out and named; the others still show.

What the verdict is and is not¶

The tile describes where the close sits among nearby reference levels. A level is not a floor or a ceiling the price must respect, it forecasts nothing, and it is not an instruction to trade the shares.