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Strategies & Market Trends : Point and Figure Charting

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To: Ditchdigger who wrote (15079)	3/6/1999 1:24:00 PM
From: Bwe	Read Replies (2) of 34811

Hi DD. A few thoughts on MTC. The stock is coming off a Bear Trap at $44 which is bullish. The Bear Trap foreshadowed the TT Buy signal at $49. The BRL was broken in February but the stock ran into a Bullish Resistance Line (brl) at $50. This brl is now at $56 and I view that as MTC's short term target. A move to $51 would further cement the bullish case. $43 would probably be a good stop as that would be a Bearish Catapult and a break of the BSL. $59 po on an incomplete vertical count off this buy signal. The stock is trading more on it's relationship to the Drug group (Bull Correction), than it's true group, Chemicals (Bear Confirmed). JMHO, Bruce

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