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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (9940)	11/22/1998 8:41:00 AM
From: Bwe	Read Replies (2) of 34809

Good morning, Eric. Lucent Technologies (LU) has a lot going for it on it's p&f chart, IMHO. The stock is coming off a Low Pole Buy signal at $88 and is nearing support by way of a Short Term Uptrend Line (STUL1) at $84. Bearish Support line at $82 and another STUL2 is at $71. STUL1 is once tested on LU's recent retreat to $83. The official BSL is at $63. A Bullish Resistance Line (brl1) from the September base of $77 has twice turned back the stock now and that is my short term target for the stock at $96. brl2 from the late Aug/early September base at $83 would be a more optimistic po at $112. The RS chart is in X's after a two month trip into an O column in September and October. The stock turned back up in late October and has continued the bullish trend in November. Of the 29 days of RS values on DWA's RS Value listing, LU has outperformed the Dow on 18 of 29 days. LU is ranked a 2 (Buy) in the Zacks ranking system. Take care, Bruce

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