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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (11251)	12/10/1998 6:53:00 AM
From: Bwe	Read Replies (2) of 34816

Ethan Allen (ETH) is currently challenging it's Bearish Resistance Line at it's current chart notation of $43. At $43, ETH gave a confirming Triple Top buy signal off of the Double Top Buy signal from October at $35. This bullish change to demand for the stock was foreshadowed by a Low Pole buy signal which I alerted the thread to back in October. This confirming buy signal takes on added importance as the stock is now right on the Bearish Resistance Line (BRL), a downtrend line that has been in charge of the stock's chart since the March '98 $66 high. Should ETH take out this most important resistance, with the RS already bullish, the stock will once again be considered to be in a bullish uptrend. A Bullish Resistance Line at $50 and again at $56 provide potential price targets. Support from STUL1 is at $38, STUL2 at $36, and a revised BSL at $31. The po is $54. Best regards, Bruce

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