AZO

This is AZO on a Weekly timeframe. I like to look at the whole stock's price pattern before drawing any lines. The past month's seems to be a subtrend within the major trend that began late 2001. Basically, I like to go from a macro view to a micro, eventually honing in on the time we are looking at.





The pink lines are the major trend. The blue lines are the subtrend. I looked at the price % of the channel width from the support to the resistance. Whatever that was, I replicated to the downside and got the lower trend line. The pink lines as well as the horizontal lines are all possible pivots.

I prefer this method of determining pivots rather than those pain in the butt pivot formulas. It's so much easier to draw a line and adjust that than worry about a typo or depend on something else to figure out what my pivots are.
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