A computerized investment tool used to evaluate price trends in the stock market and to provide better forecasting for investors. The ellipse is drawn using three points. The first is a starting point chosen by the investor; the second point is drawn where the price trend peaks and begins to reverse direction; the final point is reached when the value of the stock reverts to its original trend. Also called Fibonacci ellipse.
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PHI-ellipse Philadelphia Board of Trade (PBOT)