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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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From: Sun Tzu4/5/2024 2:57:22 PM
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ajtj99

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Extending the rails - INTC - Once a rail has been established, then it is in effect. This is similar to Q's return to completion point pattern. In the INTC chart below I show how extending the past rails tells you where the targets are.

In that chart there is weak setup around 35.4 that falls between the short green rail and the short red rail behind it. I don't put much stalk in that, but sometimes it happens.

In case it is unclear, all I have done is to extend a well established rail to estimate where the support level is. Note that the lower rail provided support earlier on for INCT also and that those bounces were not random.

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