By entering in daily, weekly, monthly, Quarterly, & Yearly timeframes we can get a sense of what a particular equity is facing for trading ranges.
Now throw in some channel lines and we get a few levels we can expect MO to meet resistance or gather on support. Currently MO is trading slightly above the weekly Pivot point and a failure to hold this level could send the stock down the channel. Otherwise there are levels of resistance to be met as the upward channel grinds slowly sideways.
Bottom-line - this is a great tool for setting entry/exit points and stops. Toss in the Fibonacci levels for good measure and make a plan...
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