Electronic Data Systems (EDS) traded in a range bound by 58 and 75 for about 4 months at the beginning of 2000. Support at 58 was first established in early January, followed by resistance at 75 in late January. The stock declined to its previous support

Support (Support Level): Support or support level refers to the price level below which, historically, a stock has had difficulty falling. It is the level at which buyers tend to enter the stock.

Support and resistance are used by traders to refer to price levels on charts that prevent the price of an asset from getting pushed in a certain direction.