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Strategies & Market Trends : Point and Figure Charting
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To: edward miller who wrote (22366)7/14/1999 3:03:00 PM
From: Ms. X  Read Replies (2) of 34811
 
Hi Ed,

The PO for CORL is 9.

Here is how you come to that number.

5.0 X * X --2 * --------X
4.75 X O X O X O * X X
4.50 X O X O X O --* X O X
4.25 1 O X O X O X O 7
4.00 X O X O --3 ----X <---Here is the buy signal at 4
3.75 X O Sell->O X X O X
3.50 | --------O X O 6 O
3.25 | O X O X
3.00 | --------O X 4 X<--You take your count from the first column of
2.75 | O X O X's that creates a buy signal after the last
2.50 +---------O X - sell signal. Count that row. In this case the
2.25 | O X count is 8. Formula below.
2.00 +---------O <--This is the column that gave the last sell signal.

Formula:
8 x 3 (for the three box reversal) = 24
24 x .25 (The box size is .25)= 6
Add 6 to the bottom of the column of X's (the one's you counted)
which is at 3.
6 + 3 = 9.

That is the momentum of the stock.

Serious resistance at 5 and a break of that to 5.5 would be very
positive. Buying on a pullback is recommended. 4 would be good.

Best of luck - hope this made sense,

Jan I am
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