Let's look at an example. Amazon (AMZN) completed
a longer term Cup over a 2 year period and then
developed a 4 week Handle (H). In this case my
projected longer term stock target price for AMZN
would have been in the upper 40's which coincided
with its longer term 38.2% Retracement Level
calculated from the early 2000 high to the Summer
2001 low. Notice that AMZN broke out of its 4 week
Handle in April of 2003 and than rallied up to its
38.2% Retracement Level (point A) where it began to
encounter some resistance.