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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (2550)4/23/1998 12:17:00 PM
From: Ms. X   of 34812
 
Oil Service stocks: Buy. Part 2
VRC:
Daily/weekly momentums positive. RS positive.
This is one of the only stocks in this sector that
did not loose strength in RS. Has been strong.
33 Top
32
31
30-------------------------X --<--4th consecutive buy signal
29 X
28 X X
27 X X O X
26 X 3 O X O X
25 --------X O X --X O X 4 ---------- Med
24 * 2 O X O X O X
23 * X O X O X O X
22 * X O X O X O X
21 X * X O O O *
20 ----X O X ------------* ---<--Stop point.
19.5 X O X *
19.0 X O X --------* ------------------
18.5 X O X *
18.0 X O ------* ----------------------
17.5 X * Bot
17.0 X ----* --------------------------

NE:
Daily weekly momentums positive. RS negative.
NE has held the bullish support with the exception of
a shakeout but then quickly retraced upwards.
38
37 Top
36
35---------------------------
34 X
33 4
32 X
31 3 X
30 --------X O X -------- Med
29 X 2 X O X <--Good entry point.
28 X O X O X O X
27 X O X O X O X
26 X O O * O X
25 X ----* --O X ------------
24 X * O <--Shakeout.
23 X *
22 * Bot

RON:
Daily momentum positive, weekly negative (cross at 63).
RS negative. RON has been one of the more volatile but
after falling to the bsl it gave two buy signals and may
give one more at 67.

67 ? <--Spread double top buy.
66 X X <--resistance
65---- ----X O --------X ----------
64 X O 4 X
63 X X O X O X
62 X O X O X O X <--Nice entry point.
61 X O X O O X X
60 X O X --X ----O X O X ----------
59 X O X O X O X O X
58 X O X O X O O <--Held support
57 3 O O X *
56 X O X *
55 X ----O X --* ------------------
54 X O X *
53 X O *

CDG:
Daily/weekly momentum positive. RS positive.
Excellent comeback after holding the bsl.
Would wait for pullback since it has run up so much.

54
53 X
52 X Top
51 X
50 O ------------------------X ----------
49 O X
48 O X <--Spread double top
47 O X X
46 O X X O X <--Good entry point.
45 O X O X --X O ------------X --<--Triple top buy
44 O X O X O X O X 4 X
43 O X O X O X O X O X O X
42 O X O X 2 O X O X O X
41 O X O X O 3 X O O X Med
40-O X O ------O X O X ----O ------------
39 O X O X O X
38 O X O X O X
37 O X O O X *
36 O O X *
35-----------------O X --* --------------
34 O X *
33 O * <--Came right down to support level
32 *
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