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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (12093)	12/30/1998 10:02:00 AM
From: Bwe	Read Replies (1) of 34809

Big E, Thanks so much for that great CCL chart you posted last evening. I'm very high on Sterling Commerce (SE) which I've also written about recently. SE just gave a Triple Top buy signal on it's chart at $40. The price objective is $66 and counting (incomplete vertical count). Before the stock gave a Bear Trap of sorts (the stock broke a double bottom by one box at $33, but was able to hold at $33, a price at which the stock bottomed in November) at $33, the stock had a po of $69. SE recently broke it's Bearish Resistance Line (BRL) at $37 to break the downtrend that the stock's been in for all intents and purposes since the March $50 high. RS on a sell but in an uptrend (turned up into X's in November), and the stock is currently outperforming the Dow and odds are it should continue to do so. First trendline resistance by way of a Bullish Resistance Line (brl) is at $48. Next brl is at $53,and another brl is at $60. SE looks very good for the rest of '98 and as a stock with bright prospects for '99. Thanks Steve! Bruce

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