The 27.12 target got MADE on Thursday. The low was 26.91.
26.13 and 25.27 still are IN PLAY.
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About Me
- Melf Elf
- Blog Purpose: To share with others what I know about technical analysis and about trading. I am not licensed to give financial advice. I never do so. I don't try to "predict" the market. I try to FOLLOW the market, as best I can. I honestly don't know how high or low a stock is going. I'm not a psychic. I mainly look at chart patterns, trendlines, support and resistance. If a pattern breaks out or breaks down, that gives me a price target that is IN PLAY. That doesn't mean that the target will get MADE. Some do. Some don't. While I try my best to answer questions that are directly related to any of the posts that I make, I don't have time to give individual tutoring. Please check bookstores, libraries and myriad sources on the internet on the subject of technical analysis and take advantage of those resources. Thank you for visiting my blog. I hope that you are able to learn something while you are here.
2 comments:
Melf
I'm looking at the MS picture, and it looks like a giant head and shoulders with an upward sloping neckline. the left should being wear the symmetrical triangle in purple is, the right where the bearish rising wedge is, making the head a nested head and shoulders, if my terminology is correct...
based on your chart and a piece of paper as a trend line, a break of 26.5 would put 21 or so in play.
but then i look at today's chart and the neckline didn't seem to provide much support or resistance.
Kevin,
Fine job on your analysis. We'll like at it this morning.
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