Point and Figure Charting Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Point and Figure Charting

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Quest who wrote (18318)	4/17/1999 7:01:00 PM
From: Bwe	Read Replies (1) of 34816

Q, EMC gave a p&f trading sell signal at $124. The stock broke some support at $112 as well. Important support is at $102, and again, there's a secondary support line at $99. The Bullish Support Line at $102 is from the January bottom at $84. There's also lots support between $95 - 97. This has been the first p&f sell signal the stock has given since February and it's entitled to a breather. The market is not a one way street. The stock's RS (Relative Strength) will also reverse to a down column on it's RS chart should the stock remain week over the next few days. RS charts are updated once a week. Probably more weakness over the next few weeks down to the support levels I outlined. The investment thesis behind putting money into EMC stock for the long term did not change because investors (traders) rotated out of the stock into cyclicals this past week. For the long term investor, the current weakness provides a good opportunity to buy some EMC shares on sale. Good luck. Bruce

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next