ABSTRACT
If you show one of your charts to a friend and tell him it looks Bullish, he will reply immediately, “How far do you think it will go?” This is an automatic response; you can count on it.
The question is a good one. How far is this expected move likely to go? You don’t know. Nobody knows. Very often you can say, with a fair degree of assurance, “This stock, which has just made such-and-such an advance, is likely to react to around such-and-such a price.”
