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No. of Recommendations: 4
What is magical about $112 and $87 ? In your experience does this work ? Sounds gibberish to me.

That's a fair take. :) As I said I don't put a lot of credence in technical/chart analysis myself, but the theory on, for instance, the $112 price point gaining importance is that the stock has dropped to that point a couple times before, then recovered, and that price movement reveals market thinking and psychology giving support at that level. There are market participants who act on this kind of thinking, so it can take on aspects of a self fulfilling prophecy, IMO, at times, if nothing else.

In my experience, I've seen price action that backs up the technical analysis take, at times, not at some others. I know it's far from reliable.

When I think about this for my own potential use, it's only as an add-on to the fundamental analysis of the business. In this case I love the business and already have a substantial position, but there are some risks that make me not want to double down at this time. I don't really believe the prior price action establishing a low ~$87 years ago gives that number any real meaning, but I also think it feasible the price could drop that low, and I'm using it as a marker for ballpark when I might want to buy more if it does.
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