1. The Macro Context: Cause & Effect

The Cause: A 4-year Reaccumulation Range (the “Shaded Box”). In Wyckoff terms, the longer the horizontal movement (Cause), the more violent the vertical movement (Effect).
The Point & Figure (P&F) Projection: Based on the width of this 4-year range, the horizontal count yields a vertical price target of $336 to $402.
Current Phase: We are currently in Phase D, witnessing the “Sign of Strength” (SOS) and the subsequent “Back Up” (BU) to the creek/range boundary.

2. The “Action Zone” (The Trade Setup)

The strategy centers on the Last Point of Support (LPS) following the major October breakout.

Key Support Range: $213 – $220.
The Change of Character (CHoCH): The October spike of 700M shares was the definitive signal that the “Composite Man” (institutional buyers) has absorbed the remaining supply.
The Entry Signal (The Retest): We are looking for a Spring or a Successful Test of the $213–$220 level.
- Bullish Confirmation: Price holds $213 on decreasing volume (indicating supply is exhausted).
- The Trigger: A reversal candle from this zone with a subsequent increase in volume, signalling that demand is stepping back in.