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Strategies & Market Trends : Point and Figure Charting

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To: Bwe who wrote (10606)12/1/1998 9:39:00 PM
From: Smooth Drive   of 34820
 
Evening Bruce,

One of your old favorites EMC is looking pretty good. Perhaps you can describe what's going on. Think it's got a shot at its price objective of 108?

80
79
78
77 X
76 X
75 X X
74 X O X
73 X O X
72 X O + < Short Term Uptrend Line
71 X +
70 X X
69 X O X
68 X O X + < Short Term Uptrend Line
67 X O X +
66 X O +
65 X + + < Short Term Uptrend Line
64 X X +
63 X O X +
62 O X O X +
61 O X O + + < Bullish Resistance Line
60 O X + +
59 O X +
58 O X +
57 O X +
56 O X +
55 O X
54 O + X
53 O + X
52 O X X
51 O X O X
50 O X O X
49 O X O X
48 O X O X + < Bullish Support Line
47 O X O X +
46 O X O X +
45 O O X +
44 O X +
43 O X +
42 O +
41 +
40

Bullish Resistance Line: From Michael L. Burke's book Three-Point Reversal Method of Point & Figure Construction and Formations "Can be drawn anytime there is a wall of O's with at least two O's above the highest X in the next column."

Take care,

Eric
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