Using TA to time entries and exits

[Baa_Baa]

@Hoop @Xerof .. I can see the H&S but can't correlate the suggested target to any other price supports. What does stand out is the 4-year rising support trend line which converges around $2.35 with the Jun/Sep15 lows horizontal support. This weekly chart illustrates.
Attachment 8009

[Hoop]

@Hoop @Xerof .. I can see the H&S but can't correlate the suggested target to any other price supports. What does stand out is the 4-year rising support trend line which converges around $2.35 with the Jun/Sep15 lows horizontal support. This weekly chart illustrates.
Attachment 8009

The target price is a line drawn in the sand, it is not a support line..it is not act as a S&R line so the shareprice should not be affected unless of course if everyone uses the same measure...This measure to calculate the target price is the standard one used for H&S pattern but no doubt there are others measures Bullowski mentions a better method using the difference from Left hand neck to Head and then subtract the difference downwards from that same left hand neck TP = 2.65 - (3.22 - 2.65) = $2.08.. This measure can be used for all H&S patterns especially those with very steep necklines..
TP is a trading tactic, it works off the chances of reaching a certain price level to which traders start to take notice of the stock again, so there is no right or wrong answers just differing odds to reach the suggested TP..The standard measure I used finding TP of 2.19 has a 46% chance of reaching that TP...Xerofs 2.16 has lesser odds probably about 40%...(assuming AIR is in a Bull cycle)..

Bulkowski Book.. Encyclopedia of Chart Patterns..has this H&S pattern statistical data table

Decline (%).... Bull Market.... Bear Market
5 (breakeven)......4%.............. 1%
10 .................. 15%.............. 5%
15 ...................35% .............17%
20 .................. 54% .............33%
25 ...................68% .............49%
30....................78% .............63%
35 ...................86% ............ 71%
50 .................. 97% ............ 93%
75 ................ 100% ........... 100%
Over 75...........100% ........... 100%

The table says for example that 54% of the H&S patterns happening within a bull market cycle have ended their fall at or less than 20% after the breakout...Also there hasn't been a H&S pattern found that the shareprice has fallen more than 75% after the breakout.

There are factors which affects these odds...the 2.35 support line/trend line conjunction area you mentioned Baa Baa would be one factor

[Snow Leopard]

@Hoop @Xerof .. I can see the H&S but can't correlate the suggested target to any other price supports. What does stand out is the 4-year rising support trend line which converges around $2.35 with the Jun/Sep15 lows horizontal support. This weekly chart illustrates.
Attachment 8009

Find yourself a charting package that does a log price axis and you will see that the '4-year rising support trend' was well and truly broken by Friday 22-Apr.

200 day EMA broken by the closing price of Friday 22-Apr.

THEN the SP slid down the shoulder.

Best Wishes
Paper Tiger

Disc: Yes on my hobby horse about the use of log charts - again