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Strategies & Market Trends : Point and Figure Charting

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To: Tulvio Durand who wrote (23576)	9/8/1999 11:05:00 PM
From: Bwe	Read Replies (1) of 34809

Hi Tulvio, EMC's price objective off of it's most recent buy signal is $77. A Bullish Resistance Line is also in that general area, currently at $79. A bit of a "Red Zone" (a proven area of resistance) in the $65 - $67 range so a pullback around these levels before rising to the po would not surprise me. Support now at $57. EMC's RS (Relative Strength) is also improving and is near a move to an up column (outperforming the Dow) on it's RS chart for the first time since May (EMC, though remaining on a buy signal since 4/96, reversed to a down column in May at $51. This reversal suggested short term underperformance as you know. A reversal into a column of X's on it's RS chart would have bullish implications for EMC's stock price). The stock has been on a RS Buy signal since 4/96 at $4 1/2. I've been an EMC bull for quite some time now and I know that you picked the stock as one of your DWA summer contest picks. Good going. Take care, Bruce

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