The PnF charts on Apple – update

I do PnF charts on stocks frequently in order to see how things are playing out for those that trade from this style of chart. Here are 2 views, the difference being the Box Reversal setting. First, here is the standard 3-box reversal:

This view shows a Bearish Triangle Breakdown on December 14 with a Bearish Price Object of 445. Now on to the 4-box reversal:

This perspective shows that the Bearish PO of 561.67 has already been met, and overshot to the downside. Price currently is set up for a Spread Double Bottom Breakdown here at the 510 level.

Some data points to note on this view:

  • January starts with price in $380 box
  • Peak in the $700 box in September
  • Downward retrace of that up move, now sitting in the $510 box = $30 overshoot of the $540 price box, the 50% retrace level