Point and Figure Charting Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Point and Figure Charting

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TradeOfTheDay who wrote (10026)	11/22/1998 12:56:00 PM
From: wizzards wine	Read Replies (2) of 34809

Morning Bev in Texas :-) VISX is RS in O's at 7.16 and 7.5 will reverse that to x's... On this one the PO (price objective) obtained by the vertical count is 72 and the previous high is 71. The sector is at 58% and the DJIABP about the same... At this point we want to look at risk to reward ratio, OK??? With a PO of 71 and the stock currently at 65 that would be 6 points to the up side...Now look to see where your first sell signal is given, way down at 54 for a TB (triple bottom) break...That's 9 points down versas 6 points up...and RS in O's to boot...Let's look to see what it will take to reverse the RS to X's and get a 7.5... For this one to go up, the market would likely have to go up alse...so let's do a little math... Stock price $65 divided by the Dow 9200 = 7.06 68 " " 9250 = 7.35 71 " " 9300 = 7.63 reverses to X's at 7.5 Do I think this will happen, Don't know but really don't like the risk to reward ratio...I like a minimum of 2 to 1 and preferably 3 to 1 reward to risk.... Hope that helped, and as far a good entry points...The 59 or TTB signal was a good point, but I don't like stocks with RS in O's unless it's on the verge of reversing back up and has a GREAT Risk/Reward ratio... Later Preston

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next