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Strategies & Market Trends : Point and Figure Charting
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To: wizzards wine who wrote (9609)11/15/1998 5:29:00 AM
From: Smooth Drive   of 34823
 
Hello Wizbang,

Here's the relevant trend lines for DELL taken from my handchart:


73                               X
72                               X O
71                               X O
70          BRL >    *           X O
69                   X *         X O
68                   X O *       X O
67                   X O   *     X O
66               X   X O     *   X O
65               X O X O       * X O 
64               X O X O         X O
63 O             X O   O         X O +
62 O             X     O         X +
61 O             X     O       + X
60 O     X   X   X     O     + + X
59 O     X O X O X     O   + X   X
58 O     X O X O X     O + + X O X
57 O X   X O X O X     O X   X O X
56 O X O X O X O       O X O X O X
55 O X O X O X       + O X O X O X   + < IUTL
54 O X O X O X     +   O X O X O X + 
53 O X O   O     +     O X O X O +
52 O X         +       O X O X +
51 O X       +         O X O +
50 O X     +           O X +
49 O X   +             O X
48 O X +               O X
47 O +                 O X
46 +                   O X 
45                     O X       + < Current Revised Bullish
44                     O X     +     Support Line
43                     O X   +
42                     O X +
41                     O +
                       +


It's currently touching a Bearish Resistance Line (BRL) that started at 70 and a Bullish Resistance/Support Line that started at 58. One box below it and sitting at 62 is a Revised Bullish Support Line that started at 46. If it goes one box lower to 62, it will have given up more than 50% of the previous column of X's, and this would form a high pole formation. Has a nice Intermediate Uptrend Line too.

The short term technicals I look at don't show much strength -- guess we'll see.

Take care,

Eric
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