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Strategies & Market Trends : Point and Figure Charting
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To: Judy who wrote (4007)6/23/1998 10:07:00 AM
From: Ms. X  Read Replies (1) of 34812
 
Hi Judy,
RMBS is looking real good here. Several positive things have happened.
The daily and weekly momentum have flipped back to positive and the
monthly is within a point of flipping back to positive. It just broke
the bearish resistance line, a double top, a spread double top and
what looks to be a quasi bearish signal reversal :-)
Looks like a great trade play. Would like it on pullback to 40for better
risk/reward but entering some here wouldn't be bad. Stop of 35.
Hard to give a vertical count with out a reversal into O's from here, but it looks like 65/66ish.
The RS is still negative so be careful for those wanting to go long.

49 X O X X O X O X O X O X O *
48 X O X O X O X O X O O X O X 4 *
47 X O X O X O X O X * O X O X O X O X *
46 X O O X O X O X * O X O X O X O X O * X
45 X --X ----------* O --O --O * ----O 2 O --O X --X O X O X * --X -
44 X O X * * | O X 3 X O X O X O X O * X <--Broke BRL
43 X O X * | O X O X O X O O X O * X
42 X O X * | O X O O X O X 5 X
41 X O X * | O X O X O O X
40 X O --* --------------------+-----O ----------O X --------O X --X -
39 X * | O X O X O X
38 X * | O O X O X
37 * | O O X
36 | 6
35 ----------------------------+--------------------------------------
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