tonyt, Re: LGND chart. Funny that you should ask. A while back, when LGND was trading around 13 to 14, I believe, I pointed out that it appeared that such a potential H & S formation was shaping up on a chart of weekly closing prices on LGND. At that time, you were correctly predicting 12 before 20
. I allowed that we both could be right in that LGND could trade at your target without vitiating the thesis that the inverse irregular H & S was in the process of formation; and, further, if the formation were validated by a neckline breaking upsurge , projections such as those recently made by the King of France, using P & F interpretations, were implied. I continue to believe that such a pattern exits on the weekly {closing basis}. Since it's an irregular formation, the question arises as to the location of the neckline. I believe a case can be made for either 18 3/8 or 19 3/4. To be conservative, I will allow 19 3/4. Bernie.
To : King of France. What's this I hear about you & Marie Antoinette?
You know, with the cake? |
