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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (3122)5/26/1998 11:36:00 PM
From: Ms. X  Read Replies (1) of 34811
 
An update on DELL:
Dell rallied today but then quickly retreated. What this did was set
up another double bottom break at 83 and the third consecutive sell
signal. Here is a good example of how rallies can fool some folks.
For all intent and purposes, a 4pt rally seems like a good thing but
P&Fers can see, it really is nothing. What we see is another lower top.
Stock closed at 83. If it opens at that level tomorrow, it has
it's third consecutive sell signal. Avoid this puppy for now. Pick
it up when things start to look better. Next support at 73 and I think
that is a reasonable target.
Last analysis on Dell: Message 4560132

98 X X
97 X O X O Top
96 X O X O
95 ------------------------------------------------------X O X O ----
94 X X O X O
93 X O X O X O
92 X O X O X O
91 X O O X O
90 --------------------------------------------------X ----O --O ----
89 X O
88 X O X
87 X O X ?
86 X O X ?
85 --------------------------------------------------X --------O X ?-
84 5 O ?
83 X ?<--Closed here today.
82 X
81 X
80 --------------------------------------------------X --------------
79 X X
78 X O X
77 X O X
76 X O X
75 ----------------------------------------------X O X --------------
74 X O X
73 X O <--Next support level.
72 | X
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