Technical Analysis is subjective @ times. For example I see a head & shoulders pattern in PGF.TO but others may disagree. I was going to post this last Sunday but it slipped my mind.
But here is what I did but you can use this for other stocks as a learning exercise and we will see if my interpretation works.
- First I drew the neckline
- Then a line from the neckline to the lowest point.
- Use the same distance of that line above the neckline – this is where the price will go up to. So expecting price to go up to 11.40.
You can use other indicators like RSI, MACD or Stochastics to help with the above.
Happy Trading
