Thank you for this piece, it's very enlightening, although I do have a question that lingers in my mind.

Would it be possible to calculate through rescaled range analysis what the likely range (i.e. the distance between a likely high and low) of a stock price may be for tomorrow, based on the historical data?

I appreciate that you can't predict the future based on the past, but I'm toying with some models to get a flavour for a likely high/low range, and given the fractal nature of stock prices it seems that rescaled range analysis would be a logical starting point, especially if combined with the Hurst exponent.

Any help would be greatly appreciated.