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Strategies & Market Trends : Point and Figure Charting
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To: Challo Jeregy who wrote (7672)9/23/1998 10:30:00 PM
From: Ms. X  Read Replies (1) of 34811
 
Challo,

Bearish resistance lines are drawn after the bullish support line
has been broken.
Once a bearish resistance line has been broken you can begin drawing
a new bullish support line.
With the sector reversing into Bull Alert at 18% and the RS just
reversing back to X's, you can buy partial positions here and more
on any weaknesses. If (for example) the sector were at 70% I would
suggest waiting for a pullback only to purchase. See the difference?

49
48 * You start drawing the bearish
47 X * resistance line from the highest
46 X O * point. In this case 47.
45 -------------------------X O --* ---------------------------------
44 X O X *
43 X O X O *
42 X O X O X *
41 X X O O X O *
40 -------------X O ----5 --X ----O X O X --* -----------------------
39 X O X X O X O X 8 X O X * X
38 X 3 O X O X O X O O X O X O * X
37 2 X O X 4 X O X O X O X O X O * X
36 X X O X O X O O O 7 O X O * O * X
35 -X O X O X O ----------O X --------O --* --O ------* --------X ---
34 X O X O X * Once QWST broke the brl here ---> X X
33 X O O * you could then start * X O X
32 X * a new bullish support X O X O X
31 X * line. O O X X O
30 -------------* --------O X --* ----------------O X --X O X -------
29 * O X * O X O X O X
28 * O * O X O X O X
27 * * O X O X O X *
26 * O X O O X *
25 ---* ------------------------------------------O X ----O * New
24 * O X * bullish
23 O X support line.
22 9
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