REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
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Selection
of vertical scale extremes
The three
arrays of data represented on the graph are the share price
and relative strength plotted at each month-end, and the rebased
normalised EPS (actual or forecast) plotted at each financial
year-end.
The extremes
of the vertical share price scale are chosen so that the scale
can accommodate the highest and lowest share price and relative
strength, and the highest EPS. With the exception, therefore,
of the lowest EPS values, the three arrays of data are then
scanned in order to establish the highest and lowest values
which arise over the timescale being plotted. This is a maximum
of seven calendar years, with historic prices for up to five
years past and broker forecasts for up to two years ahead.
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