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Strategies & Market Trends : Point and Figure Charting

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To: SBerglowe who wrote (12191)	1/2/1999 12:16:00 PM
From: Bwe	Read Replies (2) of 34811

Good afternoon, Susan. I took a look at ASPT's chart and here's a brief look at the stock. ASPT's RS is bearish and in an O column and that would preclude me from taking a long term position in the stock. With that being said, at $16, the stock gave a Triple Top buy signal with a $19 price objective. This buy signal also led to a break of the Bearish Resistance Line (BRL). This is bullish. But without bullish RS to go along with this BRL break, the sustainability of ASPT's upmove is questionable. New resistance from a Bullish Resistance Line (brl) at $18. As a trade, I would look to enter the stock on a pullback to $16. From here, $15 1/2 would be a bearish High Pole (HP) pattern and High Poles have not been good for the health of this stock. At $30 in August, the stock had a High Pole Top which led to an eventual drop to $11 1/2. ASPT had another HP at $16, and this again preceded a drop to $11 1/2, a price that has proven to entice buyers on three separate occasions. JMHO, Bruce

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