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Strategies & Market Trends : Point and Figure Charting
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To: Judy who wrote (2094)3/31/1998 9:33:00 AM
From: Ms. X  Read Replies (1) of 34816
 
Yes, poor Lilly,
You should wait on Lilly. It has broken all near term support and
heading towards the bullish support line at 55. The RS is negative
and the weekly mom just turned negative a week ago. Weekly mom
ususally have around a 10wk life span so one could assume this to
remain negative for another 2 months or so. Daily/monthly negative too.
Next support level is down at 51. Breaks my heart to say it but this
may be good for a put. We may have missed it too. I imagine it will
rebound some but I would be surprise to test its resistance at 67.

73 |
72 X
71 1 O X
70 ----------------------X ------------------X O X --2 O -------------
69 X O X X O X O X O
68 X O X O X X O X O X O
67 X O X O X O X X O X O O X
66 X X O X O X O X O C X O X O X X X O Med
65 ------------------X O X O X B X O X O X O X O ------O X O X O X O -
64 X O X O X O X O O X O X O X O X O X O
63 X O X O X O O X O X O O X 3 O
62 October 97--> A O X O X O X O | O X O
61 X O O O | O X O
60 ------------------X ----------------------+-------------O ------O -
59 X | O
58 X X X |Yesterday's action-> O
57 X O X O X | Bot
56 7 O X O X X |
55 ------X O X O X O X ----------------------+---------------------* -
54 X O 8 X O X | *
53 X O X O X | *
52 X O X O X | *
51 X O 9 <--Next support line | *

Cisco will probably come back to you. A nice buy point would be 62/63.

Take care,

Jan
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