Yesterday, FAS achieved its target of 61 (60 per the July 23rd post). This was projected from the sideways, rectangular movement between July 15-22, commonly known as a flag. Using the adage "the flag flies at half-mast,"
the target was projected. The
Point & Figure target from the July 23rd breakout remains at 76.
Daily chart shows FAS is completing a cup, but has yet to form a handle. As it approaches the previous 66 high, the cup will probably start. This formation supports the 76 target from Point & Figure charting.
Yesterday, FAS achieved its target of 61 (60 per the July 23rd post). This was projected from the sideways, rectangular movement between July 15-22, commonly known as a flag. Using the adage "the flag flies at half-mast," the target was projected. The Point & Figure target from the July 23rd breakout remains at 76.
Daily chart shows FAS is completing a cup, but has yet to form a handle. As it approaches the previous 66 high, the cup will probably start. This formation supports the 76 target from Point & Figure charting.
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