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Strategies & Market Trends : Point and Figure Charting

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To: papi riqui who wrote (2470)4/22/1998 11:51:00 AM
From: Ms. X  Read Replies (4) of 34811
 
Hey Papi,
Nahh, like the uncertainty...

DIVE is on a nice pullback. Tom liked it cause it broke through
the brl and has made a beautiful series of higher tops.

DIVE:
17.5
17.0 ------------------------ Top
16.5 X
16.0 ------------4 O ------------
15.5| X O
15.0 --------X --X O ------------
14.5 X O X O <--Nice pullback
14.0 --------X O X --------------
13.5| * X X O Med
13.0 --* X O X ------------------
12.5 3 O X *
12.0 --X O ----* --------------
11.5 X O X *
11.0 X O X --* ------------------
10.5 X 2 X *
10.0 --O * ------------------ Bot

AVEI:
Two dbl bottom sell signals. RS is in a column of O's.
Daily/weekly momentum is negative.
I put this one on my short list a couple of weeks back.
Selling calls or buying puts for insurance may be an idea here.

44 X O
43 X O
42 X O
41 X X X O X X <--resistance
40---------X O X O X O X O X O -------- Med
39 X X O X O X O X O X O
38 2 O X O 3 O X O X O
37 X O X O X O O
36 X O 4 O <--Double bottom break
35-----X --------------------O ----<--Spread dbl bottom break
34 X
33 X
32 X
31 X
30 ----X ------------------------------ Bot
29 X
28 X X
27 X O X
26 X O X
25 --O -------------------------------<--Next support level
24
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