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Strategies & Market Trends : Point and Figure Charting
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To: Judy who wrote (4622)7/11/1998 11:14:00 AM
From: Ms. X  Read Replies (4) of 34811
 
Hi Judy,
Looking at Ascend it has been steadily gaining strength since March,
after it's initial push through the brl. The RS turned positive, the
monthly momentum turned positive - all indications to me that something
more than just buyout hype is going on.
Usually, you see a High Pole or something similar when hype is coming
down the wire. ASND looks steady.

I don't understand the short on a technical basis. Don't see it.
First sign of breakdown at 46 but that may only be a false sell signal.
May pullback to 50 for an entry not much of a short there (I know
you aren't shorting the stock).

Here is the chart:

56 Top
55 ------------------------------------------------------------------
54
53 X
52 * | 5th buy signal X
51 * | X X
50 ---------* ----------------------+-----------------------X O X ---
49 * | 4th buy signal X O X
48 X * | X X O X
47 X O * | X O X 7
46 X O * | X O X
45 -X O --------------* ------------+- 3rd buy signal X O 6 -------
44 O * | X 5 O X
43 O * | X O X O X
42 O * | X O X O
41 O * | X O X
40 ---9 ------------------------* --+---------------X O -------------
39 O * | 4 2nd buy signal
38 O X * X X
37 O X O | * X O X 1st buy signal
36 O X O Broke throught BRL--> X O X X *
35 ---O X O X --X ------------------+-----* X 3 X O X ------* -------
34 O X O X O X O | X O X O X *
33 O O A O X O | X O O X *
32 O X O O X | X O Held new support
31 O X O X O | X 2 *
30 -------O ------O X ------X O ----+---X O X ----* -----------------
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