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STOCK PRICE MOVEMENTThe point-to-point movement model is based partly on the one put forward by analyst J.M. Hurst a number of years ago and partly on my own research. In this model, stock movement is considered to be composed of random point-to-point movement and complex cyclic movement. Point-to-point movement is simply a generalization of the sampling interval and refers to the change between one data point and the next, such as "tick-to-tick," "day-to-day," and "week-to-week," as well as others.FIGURE 1: DAILY DIFFERENCES. The differences between one day's closing price and the next is plotted for IBM stock over a four-month period.
FIGURE 1: PITCHFORK CONSTRUCTION. From low A, draw a line through the midpoint of BC, extending it to E.
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