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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: Ms. X who wrote (3344)12/17/1999 2:19:00 PM
From: Ms. X  Respond to of 9427
 
Basic chart information...

I'm going to use INTC as a sample.
Trend lines - Bullish Support and Bearish Resistance lines.

91
90 ---------------------- -----------------------------------------
89 X * <--This is the bearish resistance line. (BRL)
88 X O * When a stock trades below this line we call the
87 X O * trend negative.
86 X O *
85 --------X O X ----* --------------------------------------------
84 X X 9 O X O *
83 X O X O X O X O * X *
82 X O X O X O X O * X O X * <--New BRL created
81 X O O O O * X O X X O * from the last
80 X ------------O ------------* ------X O X O X O X * break of the BSL.
79 X O X X * B O X O X O X O X
78 X O X O X X O * X O X O O X O X
77 X The chart breaks the BRL here->* X O X O X O X
76 X Creating a new BSL below. X O X C X O X
75 X ------------O X O X O --O --------X O X ----O --O X ----------
74 X O X O O X X X O * O <--Broke the
73 X O O X O X O X * O X new BSL
72 X O X O X O X * O X (see above)
71 X O X O O X * O
70 --------------------------O X ----O X --* <--New BSL------------
69 This is the break of the->O X O X *
68 BSL that created the * O X O *
67 BRL (above) * O X *
66 BSL-->* O X
65 ----------------* --------O ------------------------------------
64 *
63 * <--Stars mark the bullish or bearish resistance line
62 * this is a bullish support line (BSL). When a stock
61 * trades above this line we call the trend positive.
60 --* ---------------------------------------------------------


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