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Strategies & Market Trends : Point and Figure Charting

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To: Sam Quentin who wrote (205)	1/30/1998 11:19:00 AM
From: Ms. X	Read Replies (1) of 34811

Hi Sam, We started seriously looking at Cisco when it broke through its bearish resistance line at 56 with a stop of 51. Here is what Cisco did after that: It moved up to 59 and then retraced to 52 (coming close to the stop). It then reversed back up and we could have considered the reversal back up to 55 an entry point as well (we would have initiated the same stop). It then moved to 59 and retraced again. This created a double top and obvious resistance at 59. This time it only retraced to 56 then went up to break resistance at 59 with a triple top buy signal. All the best, Jan

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