It is and may be very useful to have some sort of an idea of what the extend of the move may be, UP or DOWN. For that P&F charts can/may play an important role. Some of the tentative price objectives work some don’t.
We are looking at the 3 Box Chart of SHV. Box Size 10 cents, Daily, H/L below and it is telling us that the TENTATIVE BEARISH PRICE OBJECTIVE is @ $6.15.
Question is will it be met or how close we may get to it ? No one knows the answer to that question.
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