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Strategies & Market Trends : The Rational Analyst

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To: HeyRainier who wrote (968)	5/27/1998 12:20:00 AM
From: Smooth Drive	Read Replies (1) of 1720

Hello Rainier, Regarding DDIM, here's a top down take from the Point & Figure perspective: -NYSE Bullish % Index: Bear Alert in column of O's and dropping. -Computer Sector Bullish % Index: Bull Correction in column of O's and dropping. -Relative Strength: On a sell signal in column of O's (Under performing the market since Sept.) -Current Signal: Buy -Vertical Count Price Objective: 22.5 One of the nice things about a P&F chart is the fact that there is little debate regarding the actual drawing of trendlines. We all pretty much draw them the same. On 4/29/89 DDIM broke a double top at 15, and subsequently penetrated its bearish resistance line (brl) when it reached 16.50. This established a new bullish support line (BSL) at the stock's recent low of 10.5 where a nice base of accumulation had been building since February. So, it's currently trading in a bullish trading channel. Stock subsequently pulled back to 14.5 which is what we like to see (pull back that is). If it continued to pullback it would penetrate the BSL at 11.5 and this would establish a new brl just above 16.50. Look for resistance at 16, 18 and 19. Regards, Eric

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