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

To: Luce Wildebeest who wrote (642)2/13/1998 12:00:00 PM
From: Ms. X  Read Replies (1) | Respond to of 34811
 
Hi Calvin,
NMGC is trading above its bullish support line which is good. It has lots of resistance at 1.5, 20, 21 and 22.
The relative strength is negative as is the daily momentum. Weekly momentum did flip positive while the monthly remains negative.

It is in the computer sector which is performing very well. Because of this we expect the stocks to do well, no bottom breaks.

If bought here, use a short term stop of 17 a triple bottom break. If longer term use 15 as a stop, violation of the bullish support line.

See ya,

Jan



To: Luce Wildebeest who wrote (642)2/13/1998 12:02:00 PM
From: Jorj X Mckie  Respond to of 34811
 
Hi Calvin,
Hope you don't mind if I jump in and get a little PnF practice. Jan will have no problem correcting me if I lead you astray...

NMGC has a decent looking chart. Well above bullish support line. Couple of buy signals under it's belt. However, it is right at a resistance level. A move to $20 would break a spread double top and give a pretty strong buy signal.
Tom


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