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Technology Stocks : Compaq
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To: Night Writer who wrote (35583)10/31/1998 9:54:00 AM
From: HoodBuilder  Read Replies (1) of 97611
 
A P&F perspective...

For those familiar with Point & Figure T/A you should note that CPQ is sitting just below the Bearish Resistance Line @ 33. With Friday's powerfull move to 32 intraday we just added two new 'X's" to the reversal off the bottom where a Bullish Triangle has formed.
Although this is not as powerful as a Bullish Catapult formation, CPQ looks very good and will look even better if we can pierce the BRL and print 34 from here.This should lead to a run to new highs. RS is still on a Sell Signal but Momentum just flipped Positive.

I would love to see CPQ put in a few "Dell pre-earnings run type days",and show the Dellheads that we ain't dead yet.
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