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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (15908)	2/1/1998 2:28:00 PM
From: Andreas	Read Replies (1) \| Respond to of 97611

Mohan, Thanks for the response. Does anyone else know if Mohan is right?

To: Mohan Marette who wrote (15908)	2/1/1998 3:35:00 PM
From: Ms. X	Respond to of 97611

Mohan, Reply from the Point and Figure thread regarding CPQ. Compaq is trading above its bullish support line and seems to be consolidating in the 26-33 range. Last signal was a double top buy and has currently pulled back from this signal. Relative strength is on a buy signal but in a column of O's (reversed to the downside). It does look like the RS is starting to gain strength but not enough for a reversal up yet. The daily momentum is negative crossing positive at 30.25 and the weekly momentum is positive. I imagine once the sector reverses up (Computer sector, BPCOMP, is currently reversed down settling at the 32% level. Current reading is 36% needing 38% for a reversal up) CPQ will improve its relative strength and start to perform better. I would wait for the daily momentum and the RS to firm up before I would buy new positions. This is based on what parameters I set for my individual trades. Stacks things in my favor. I would say CPQ looks good and will look even better once BPCOMP reverses to the upside. First sign of trouble would be a move from here to 24. This would break a double bottom, spread double bottom and would be a violation of the bullish support line. All the best, Jan