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Strategies & Market Trends : Point and Figure Charting
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To: ViperChick Secret Agent 006.9 who wrote (2081)3/29/1998 11:47:00 PM
From: Ms. X   of 34822
 
Lisa,
The RS is still week and it is trading below the trend line (way up at
27) but it has the advantage of being in the oil services sector.
The daily and weekly momentums are positive.
Right now UTI is at the top of its trading band so don't be surprised
to see some sort of pullback from here. Resistance way up at 26.
I'll mark on the chart your stop points.

19.5 O X O
19.0 ---------O X O ----------------X Top
18.5 O O X X
18.0 -------------O X O --------X --X ---
17.5 * O X O X O X
17.0 ---------* --O X O --------X O X ---
16.5 O X O X O
16.0 ----- ----1 O X O --------X ------- <--Stop for short term trade
15.5 9 O X O X
15.0 -------------O --O --------X -------
14.5 O X X X Med
14.0 -----------------2 X O 3 O X -------
13.5 O X O X O X
13.0 -----------------O --O X O X -------
12.5 O O X
12.0 -------------------------O ---------
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