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Strategies & Market Trends : Point and Figure Charting
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To: Perry Ganz who wrote (18337)4/18/1999 11:07:00 AM
From: Ms. X  Read Replies (1) of 34811
 
Welcome Perry!
QCOM chart.

Friday QCOM reversed up nicely but then closed at a lower price from
the high. However, if you look, the low is higher then what the low
was on Thursday. If on Monday QCOM doesn't move any lower, the chart
will remain in X's. QCOM has support until 140. A break of 140 would
be a negative sign. QCOM sold off with the rest of the techs but
looks strong. Good entry into QCOM in the 40's with a stop of 138 for
a trade. No price objective yet.

178
176 X
174 X O
172 X O
170 --------X O -------------
168 X O
166 X O
164 X O
162 X O X <--Reversal up on Friday.
160 --------X O X -----------
158 X O X
156 X O X
154 X X O X
152 X O X X O X
150 X O X O X O X -----------
148 X O X O X O X
146 X O X O X O X
144 X O X O O X
142 X O X O X <--Friday's pullback after high and close price
140 X O X ----O ---<--Low on Thursday.
138 X O X
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