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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (25169)	2/4/2001 4:36:29 PM
From: Harry	Read Replies (1) \| Respond to of 34822

Excuse me for butting in but when I looked at the candlestick chart for PRCS I noticed that it has formed a bullish hammer candlestick pattern which generally indicates a reversal in trend and because it is at the bullish support line as well,I will be watching it tomorrow. At 25.75 it sits at the 50ma and if it holds and moves up that is another indicator of reversal. Harry

To: Ditchdigger who wrote (25169)	2/4/2001 5:21:06 PM
From: chartseer	Read Replies (1) \| Respond to of 34822

PRCS: PNF chart is classic buy signal. RS in column of Os. Will BSL hold? HILO index at 96.2%. Where to place sell stop? 23 22 or 21? Another reverse head and shoulders pattern in the making? Will this pattern break down and retest previous bottom? Will it form a spread double bottom (Big W) instead of a reverse head and shoulders? Do I really want to be buying any stocks at all here? Is general market direction downward? Seems this chart creates more questions than answers for me. then again what the heck do I know? chartseer

To: Ditchdigger who wrote (25169)	2/4/2001 6:29:11 PM
From: David N. Jones	Respond to of 34822

My read of PRCS is similar to Chartseer in that the weakening relative strength is my main concern. I would not buy until the reversal has taken place.