Welcome to EV's point and figures. This blog is dedicated to the use of point and figure charts in technical analysis.
Although P&F first appeared in charts in the 1930's, it is an often overlooked techique for analysing stocks and charts. A poor relation compared to line and bar charts and their range of momentum indicators. Yet few charts provide a clearer picture of the daily battle between bulls and bears for market control.
Like most methods, it should not be used in isolation. It should form part of an analysts 'tool box' and be used with other techniques to help form an overall view.
The charts that appear on this blog and any accompanying comments are purely for information purposes only - my own personal take on where the prices may be heading. They do not constitute investment advice.
Thursday, July 22, 2010
Apple; double bottom sell signal
But note also that Apple's recent chart has a fairly consistent pattern. Twice before we have seen high poles, followed by consolidation, then a sharp move higher. This time the tussle between bulls and bears has lasted slightly longer, so bears may just win this particular battle.