Read this article in a Singapore trading blog.
Interestingly, seeing how the chart is plotted and target price hence calculated.
Hope someone will shine the light here coz ....Hmmmmmm.......am I learning something right ?
Kindly comments.
.Link to chart.The statement goes like this:
" A symmetrical triangle is created from 8 Oct 2007 to 3 Jan 2008. Today, it breakout from the triangle, hit high at $1.21, and closed at $1.19. There is also a bullish centerline crossover. RSI and stochastic look good to have more upside. based on symmetrical triangle, assume $1.09 is the breakout price, the target price is $1.09 + ($1.43 - $0.86) = $1.66. Prices to watch are $1.24, $1.34, $1.50. Immediate supports are 14dMA, Line A. "Disclaimer: Only for discussion and learning purpose only.
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