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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (7526)	9/22/1998 7:04:00 AM
From: Bwe	Read Replies (2) of 34811

AOL p&f: The BRL from the July, $140 high is currently at $108. The RS chart has been bearish, however, looks like it will be reversing into a column of X's this week. This is a positive. Yesterday, AOL gave a double bottom sell signal at $95 and this was the first sell signal the stock has given since August at $102. AOL dropped as low as $69 and gave a long tail down buy signal at $72. This bottom fishing buy signal moved the stock to $94 and then the stock eventually rose to $100 and proceeded to move into a High Pole Top formation at $91. This was very bearish chart action. The stock temporarily ignored the HPT and gave another buy signalÿat $100. AOL quickly reversed and that brings us to the stock's current chart position of $95 and on a sell signal. A Bearish Support Line is at $93 and two short term revised Bullish Support Lines are at $91 and $88. For AOL's main trend to turn up, the stock is going to have to break it's BRL with a buy signal and have it's RS chart turn up which seems likely for this week. The HPT is not a pleasant sight and suggests the stock is going to move lower. I believe the floor would be the revised BSL at $88. Take care, Bruce

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