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Strategies & Market Trends : Point and Figure Charting

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To: flashy who wrote (4227)	6/29/1998 11:54:00 AM
From: wizzards wine	Read Replies (1) of 34813

Hi Flashy, HWP Hummmm.....I like the Products HP makes but the stock??? P&F wise she's an RS Sell in O's and underpreforming the market and sector for that matter. Trading range for over 12 months has been 60 to 67 and then the blast to 82 only to drop right back ot 60 and then fall to 56.. Your 65 would be a double top buy signal, but in general we like to get in after the buy signal on a nice pull back, you could let go to 58, but would not want it to give another sell signal in the process. In this case with the RS in a column of O's if I had to have HP I would want to see multiple buy signals showing that demand is coming into play. You've got to remember that HP is getting killed by the sub $1000 computers, by DELL and the likes. Personally, even as much as I like HP...I think there are better bets out there right now. Just my thoughts Preston

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