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Strategies & Market Trends : Underexposed Technical Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Moonray who wrote (17)	3/9/2017 12:53:33 PM
From: Underexposed	1 Recommendation Recommended By Moonray Read Replies (1) \| Respond to of 914

Hi MR Welcome to my thread. I can see from your example of AAPL P&F chart we are basically on the same page :) 1) From the AAPL P&F chart at the first link above, notice that the Price Objective postedby StockCharts.com is WAY below the current AAPL price. This seems to be the case whereseldom does a stock reverse (up or down) at the objective posted. Is this a function of all P&Ftechniques or just StockCharts? I don't pay much attention to Stockcharts Price Objective. They don't discuss the algorithm behind it so I cannot comment on it.... it is just that I have seen it off by 10%, 20% or more .... so it is a very coarse guideline for me. I much prefer the horizontal price estimate that I showed in the last major post. I have just started to use it really and am astonished at how close it's result is. 2) Using your analysis, where do you see the price of AAPL going? Well you can only comment on the current run. I used the same box size as you did.... it is perfect to see recent action. You easily see that solid resistance which has now turned into solid support once crossed. It would be breach that support at $128.00 I tried to calculate the bullish rise and with this chart I came up with $130.00.. this predicted the passing of the resistance at least. Don't restrict yourself to just this chart... try a coarse chart to see what that looks like using a 4 dollar box size... I get a better chart for estimating the price rise.... in this case it is to $144.00 The Stockcharts prediction is $244 for Price Objective and it may get there in stages. I like the $144.00 as an achievable objective... When it reaches that point there probably will be a hiccup of some sort... that would a point to revise your estimate of price and direction. Good questions... hope this helps UE