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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (4053)6/24/1998 6:23:00 PM
From: Ms. X  Read Replies (2) of 34816
 
Hi Judy.
WIND broke two double tops as well as turning the daily and weekly
momentum positive. Still below BRL and RS is in O's. Sector low and
getting stronger. A move to 39 would break the BRL and would be very
bullish for WIND. Stop of 28. Price objective of 48.

WIND

47 * |
46 X * |
45 -------------------X O * --------+--------------------------------
44 * X O * |
43 O X * X X O * | * Top
42 O X O * X X O X O X * * | 4 *
41 O X O * X O X O X O X O X * X O *
40 -O X O ----X O X O X O X O ----X O * ----------X --X O --* -------
39 O X O B O X O X O X O X O * X 3 X O X O *
38 O O X X O O X O X O X 1 X X O X O X O X O *
37 O X O X O * C O X O X O X O X O X O X O
36 O X O X * O X X O X O X O O O O X<--Today's action
35 -----O X O ----* --------O X O X O X 2 X --* --------O X ------X--
34 O X * O X O X O O X * 5 X O X
33 O X * O O X | O * O X O X X
32 O X * O | * O X O X O X
31 O * | 6 O X O X
30 -----* --------------------------+-----------------------O X O ---
29 | O

T:
Looks like a buy opportunity on T. RS is negative but getting less so.
Daily and Weekly momentums are still positive. T pulled right down to
support and bounced up to break a double top. Today's action is only
a nice pullback. Stop of 56.

68 | X
67 | X O
66 | X X O
65-------------------------------+-----X O --------X 4 ----X -
64 X | X O 2 X 3 O X O
63 X O X X O X O X O X O X X O
62 X O X O X O X O X O X O 5 O 6 O
61 X O X O X O O O O X O X O Med
60-----------------------------X 1 X O --------------O X O X O <--Today's action
59 X O X O O X
58 X O O X
57 C | Help support line--> O *
56 X | * <--Stop point
55-----------------------------X | --------------------* -----
54 X | *
53 X | *
52 X | * Bot
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