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Strategies & Market Trends : Point and Figure Charting
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To: Jerry Olson who wrote (1523)3/7/1998 1:43:00 PM
From: Ms. X  Read Replies (1) of 34811
 
Hey there,
KLIC did break a spread double top at 29 but it is still way below its bearish resistance line. The RS is on a sell signal but it did manage to reverse to O's. Your closest stop point is 16 which may be too low. Decide your stop loss by percentage.

IMNX: It did just give two consecutive sell signals but seems to be trying to come back. It is above it's bullish support line and the RS is on a buy signal but has reversed to O's. Resistance at 65 and 66. Sector is good but I don't like it breaking those double bottoms while RS is in O's. Stop of 57.

CA: I think this will do fine. Great support at 45. 44 is your stop. RS good.

ASMLF: Your stop is 93 a double top break above the bullish support line.RS is strong.

ICN: Resistance right here at 59 breaks double top at 60. RS strong.
I would give this some room even if it broke the double bottom at 53. Sector is good, RS is strong and it is way above bullish support line.

GDT: Looks great. Breakout at 76 would be good news. Higher bottoms RS strong.

BAB: Below bearish resistance and RS is very weak. Good position for a put. Stop of 97, a double top break.

AFL: This would be a scalp and for aggressive traders only. You have a high pole here. Could be good for puts but remember sector is still moving up and the RS is very strong. No stop point since at an all time high.

Good luck Jer,

Jan
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