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Owen,
A:=Mov(Abs(C-Ref(C,-1)),10,S);
This is a ten-day SMA of the day-to-day net change in closing prices, so
I would take TPH1 and TPL1 as indicating the probable range of the next
day's close; TPH2 and TPL2 might indicate the extreme range and could be
used as an entry point in the desired direction or a stop in the
undesired direction.
Could you give a reference for Chande? The web page is that of the ISP;
something additional is needed.
HHP
Owen Davies wrote:
> Am I missing something, or does the following
> formula for Tushar Chande's target prices, pulled
> from www.nt-tech.com.au, forcast today's high
> and low only after today's close?
>
> A:=Mov(Abs(C-Ref(C,-1)),10,S);
> TPH1:=C+A;
> TPH2:=C+(2*A);
> TPL1:=C-A;
> TPL2:=C-(2*A);
> TPH1;
> TPH2;
> TPL1;
>
> Somehow, I don't think that's what Chande had in mind.
>
> Owen Davies
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