P&F-Madness, When I look at AMAT I see we are at a double top at $38 with price variation occuring in the noise area of $38-35 range. The bull support level looks to be to be at $33. It is Bull Confirmed66+, R/S @ Buy, R/S Col @ O, Trend @ +, P&F @ Buy, Momentum @ +, with 6 wks momentum. Since it has broken the bear resistance level at $38, IMO, if it breaks the double top at $39 it looks to me that it will get an upward ride.
When I use the horizontal method of calculation I come with 14 total colums of X & O's times 3 equal 42 points. These added to the low base of 26 gives us a estimated top price of $68.
Vertically, IMO, I see nine X's before it broke the downturn which occured in December when it moved from $35 to $26. Nine X's time 3 equals 27. Added to $26 we then have a vertical count of $53.
Therefore, IMO, we have an potential AMAT range from
$53-$68. Are my calculations accurate?
P&F-Madness, has Tom come to any decision as to which method of projection is the most accurate?
Thanks,
Paul V. |
