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Strategies & Market Trends : P&F Research
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To: CENTrader who wrote (217)8/23/1998 2:23:00 AM
From: Ms. X  Read Replies (1) of 389
 
Hi Bill,
Tom alerted me to your post. Please visit us over on the Point and
Figure thread. We talk about stocks, sectors and market indicators.
I'm sure you will find it most interesting.

Tom's analysis stands I'll just add some points.
It has given a triple bottom sell and is sitting at a possible
double bottom. Breaking this double bottom would certainly be a hint
to hedge if long. Stop on trades.

Here is the chart.

37
36 X
35 ---------------------------------------------------X O --------------------
34 X O
33 | X X O
32 | X X X O X O Lower tops.
31 | X O 3 O X O X X O X <--Resistance
30 -------------------------| ----X O X O X O ----X O X O X O X -<--Resistance
29 | X O X O X O X O X O X O X O
28 | X O O X O X 7 O 8 X O
27 | X Triple bottom break--> O X O
26 | X O X O X O X O * O
25 -------------------------| ----X ----O 4 O X O X --------* ---<--This would be a double bottom break
24 | X O X O 5 X * and violation of the BSL.
23 X | 2 O X O X * <--Bullish support line.
22 X O X O X 6 X *
21 X X O X X O X O X *
20 -------X ------X --X O X 1 X O X ----O X ----O * --<--Next support level.
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