P&F Bullish objective

Mark_L

When I look at a P&F chart, above the chart, it describes the P&F pattern (for example, Ascending Triple Top Breakout) and in many cases also has a bullish price objective. Using the chart of Nike (NKE) for example, it shows an objective of 98, up from current price of 79 and change. How is this objective determined, and how reliable are they

gord

The following links will give you complete details on how P&F charts are created, used, and how price objectives are calculated.

These training documents are located under the ChartSchool tab at the top of the StockCharts page. Lots of great information there, in your search for one answer I'm sure you will find lots of other things you didn't know StockCharts could do. Well worth a look.

http://stockcharts.com/docs/doku.php?id=other-tools:pnf-charts

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:point_and_figure_price_objectives

Mark_L

Thanks Gord. Shortly after I posted, I thought, "Gee, I'll check the chart school." Sure enough found the answers.

Mark_L

As a follow up FYI, if you look at the date of my original post, 9/2, where the price was 79, although it fluctuated a bit, it got to the bullish objective of 98 by end of Nov., and now has a bullish objective of 130. Gee, guess I should have held on! Happy New Year.