bulls in control over 4500
pnf chart explanation
point & Figure Charts (PnF) can be scaled using traditional box scaling, percentage box scaling, user-defined scaling or Average True Range (ATR) scaling. Scaling refers to the box size. Traditional scaling is based on price levels. In other words, the size of the box increases with the price of the stock. Stocks priced from 5.01 to 20.00 scale at 50 cents per box. Stocks priced from 20.01 to 100 scale at 1 dollar per box. Yes, the scale adjusts as the price changes. Below is a traditional PnF chart for Amdocs (DOX) showing the scale adjusting as price changes.
