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Strategies & Market Trends : Point and Figure Charting

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To: Bulls who wrote (24296)11/4/1999 9:17:00 PM
From: Ms. X  Read Replies (1) of 34827
 
LEAP:
I'm marking here on this chart support levels. It is currently above
the top of its trading band and for the best entries we would like to
see a pullback around 5 to enter. Stock looks great. The relative
strength is still negative to the market, getting stronger but not
close to reversing up (into X's). With the indicators positive however
we can enter trades with an RS in O's as long as the chart pattern
is good.

7.0 ----------------------------------------------7.0
6.5 X 6.5
6.0 --------------------------------X ------------6.0
5.5 X 5.5
5.0 ----------------------------X --X <--Good pullback area.
4.75 X O X 4.75
4.50 --* ------------------------X O X ------------4.50
4.25 * * X X B X 4.25
4.00 ------* X * ----X O --------X O X ------------4.00
3.75 X O * X O X O <--Closest support level
3.50 X --2 --X O --* X O ----X --X ----------------3.50
3.25 X O X O X O X X O X O X *<--Bullish Support Line
3.00 X O X O X O 4 O X O 9 --A O X * --------------3.00
2.75 X O O X O X O X O X O X O * 2.75
2.50-------O X O X O X O X O X * ------------------2.50
2.25 3 X O 6 X 8 O * 2.25
2.00 ------O ------7 ------* ----------------------2.00
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