Gap Target of $426.69 set here:http://boards.fool.com/gap-target-42669-30504628.aspxwas reached today
Gap Target of $426.69 set here:http://boards.fool.com/gap-target-42669-30504628.aspxwas reached todayOkay.Now what? That is, what does it mean to hit a gap target going down, and where does AAPL go once the target is reached?-awlabrador (not an active follower of TA)
>> Now what? That is, what does it mean to hit a gap target going down, and where does AAPL go once the target is reached? <<In theory, it should induce chart huggers to cover their shorts.KB
In the case of Janny's Gap Theory--it doesn't mean a stock won't go lower--I'm posting the hit simply validate that the stock price went low enough to reach the gap target set--that if you had, at the time the target was set, waited to buy you could've gotten in at a lower price. (Conversely, when there is a gap-up day, you could make a larger profit if you wait until the stock hits the gap target to sell).I've posted targets on many stocks, most (not all but most) have hit that target either in the short- or medium-term. Whenever I post the target I try to do the follow-up documenting when the target was hit.
adding...on the day the gap target of $426.69 was posted (1/24/13) the stock opened at $460 and closed at $450.50.
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