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Strategies & Market Trends : Point and Figure Charting
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To: the options strategist who wrote (3282)6/1/1998 4:37:00 PM
From: Ms. X  Read Replies (1) of 34811
 
Hi Jen,
HD looks great. RS is very strong too. Momentums positive.
Could buy here and on pullbacks to 73 or so.
(Don't know where it traded today.)

80 ------------------------------------------------------------------------ Top
79
78 X
77 X
76 X X
75 ------------------------------------------------------------X O X -
74 X O X
73 X O
72 X X
71 X X O X X
70 --------------------------------------------X --X O X O 5 O X --Med
69 X O 4 O X O X O X
68 X 3 O X O O X O
67 X O X O X O X <--Stop point.
66 X O X O X O
65 ----------------------------------------X O X O -------------------
64 X O
63 X
62 | | 2
61 | | X
60 --------------+-----------------X --+---X ----------------------Bot
59 | C O 1 X
58 | X X O X O X
57 | B O X O X O X
56 | X X O X O X O *
55 --------------+---------A O X O X O X ------------------------* ---

LOW is looking good too, strong RS but too extended here.
A good pullback would be to 71 with a stop of 64.

81 Top
80 ----------------------------------------------------------------X -
79 X
78 X
77 X
76 X
75 ----------------------------------------------------------------X -
74 X
73 X X
72 X O X
71 X O X 5 <--Godd pullback
70 ----------------------------------------------------X O X --X O X -
69 X 4 X O X O X
68 X O X O X O X
67 X O X O O X
66 X O O X
65 ----------------------------------------------------X --------O ---
64 X <--Stop point
63 X
62 X
61 3
60 ----------------------------------------------------X -------------
59 | | X
58 | | X
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