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Strategies & Market Trends : Point and Figure Charting
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To: Bwe who wrote (12623)1/13/1999 2:38:00 AM
From: Smooth Drive  Read Replies (2) of 34809
 
Hello Big B,

Thanks for the link.

Did you say DISNEY?

45
44
43
42     X
41     X O
40     X O X                   + < Bullish Resistance Line
39     X 5 X O               +
38 X   4 O 7 O             X
37 2 O X O X O           + X
36 X O X 6 X O         +   X
35 X 3   O   O       +     1 
34 1         O     +       X < Double Top Continuation 1/11/99
33 X         8   +     X   X + < Bullish Resistance Line
32 C         O +       X O X
31 X         O X       X O X
30 X         O 9 O     B C
29 X         O X O   + X
28 B         O X O +   X < Double Top Buy Signal 10/22/98
27 X         O X O X   X
26 X         O   O X O X
25               O X O X
24               O   O X
23                   A     + < Bullish Support Line
22                       +
21                     +
20                   +

Disney topped at 42 on 4/23/98. I have a red zone starting at approximately 40. This is the biggest time resistance. When charts break through these past all time highs, you've got to take notice. We'll have to see in Disney's case.

Currently sitting at 38 (got 3 boxes today) and right on a Bullish Resistance Line. This is the second brl and on many stocks this is where they weaken. Some players take their money off the table when it gets near the 2nd brl.

RS is sell but in a column of X's just recently established. Long term bullish (above the Bullish Support Line) and short term bullish (on a buy signal). Bullish price objective of ((10*3)*1 + 23 = 53. If it breaks the previous high - stranger things have happened.

(Bruce, Chartcrafts last option page of DIS is very corrupted. Doesn't look anything like above. I created this with TC2000 data and confirmed a great deal of the numbers at Microsoft web page.)

Take care,

Eric
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