The reason angles hang in the air and don't make it to the bottom of the channel is because the arc distance is right, but the angle speed is TOO SLOW to make it continue to the bottom. That's why you'll see overlaps at the vertical posts. Notice the posts go through several arc distances. If the arc distance is right, but no speed the channel bottom can't be...
With the big put action today in TXN pre-earnings, look for 40.88 to be tested.
This method is different than normal channels because the VERTICAL DISTANCE between the channel remains constant. There may be 2 constant channel sizes though. Accurate placement on the significant points is important and there should be minimal margin of error in breakthroughs. I zoom in at least 200% to set them. I have tried this method on Hi-Caps, pennies,...
measured move to $65 or just go back to play within the box. range from top to bottom is $25
multi-year top, however volume has been low, and it did not handle the 2007 top, will be interesting to watch.
Option traders are slightly bearish this stock and could be a good indication to sell now and take profit next downside target is $33.80 Join us woowtrading.net