As promised, here is the finalized analysis with the most specific target points. The final boxes had the most overlap based on all of the data.
Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, multiple BUY signals fired between August 19-27, 2021 with closing prices ranging between 66 and 69.
If this instance is successful, that means the stock should rise to at least 67.326 which is the bottom of the larger green box. Repeating three-quarters of all successful signals would have the stock rise to at least 68.3044 which is the bottom of the smaller green box.
The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 40 trading bars after the signal. A 0.5% rise must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 16 trading bars while one-quarter require at least 27 trading bars.
As always, the stock could decline the very next bar after the signal without looking back (therefore the green boxes would not come into play) or the stock may never decline (and the red boxes may never come into play).
Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, multiple BUY signals fired between August 19-27, 2021 with closing prices ranging between 66 and 69.
If this instance is successful, that means the stock should rise to at least 67.326 which is the bottom of the larger green box. Repeating three-quarters of all successful signals would have the stock rise to at least 68.3044 which is the bottom of the smaller green box.
The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 40 trading bars after the signal. A 0.5% rise must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 16 trading bars while one-quarter require at least 27 trading bars.
As always, the stock could decline the very next bar after the signal without looking back (therefore the green boxes would not come into play) or the stock may never decline (and the red boxes may never come into play).
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
