Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: wizzards wine who wrote (7121)	9/10/1998 8:06:00 PM
From: Twiford	Read Replies (1) \| Respond to of 34811

Wizzards Wine: I am trying to better understand P&F. I use to keep charts by hand several years ago. I would appreciate your observations of my analysis of ASND. TIA ASND is in an industry group (computers) that reversed it's risk to "bull alert". After breaking a double top at 41, the stock moved up to 45. A Bearish Resistance Line was broken at this point. The stock has now reversed to O's @ 40. A Bullish Support Line is found at 36. Therefore, a further decline to 37 - 38 area could result in a bounce upwards to the 44 to 45 area. A breakout to 46 would indicate a DTB with resistance at 49. A further breakout to 50 would indicate a move back to the 55 area where the next area of congestion would appear. Any movement above this area would be very bullish. On the downside, a break of the BSL at 36 would indicate a downside to a support area @ 33. A possible strategy would be purchase on further weakness in 37 - 38 (should it occur)looking for a bounce off of the BSL. Should the BSL not hold, the decision would be "cut losses" or wait for support area @ 33. I may be in left field with this and am hesitant to even post it but I need to begin again somewhere. I would appreciate any help. S PS I am not sure how (or if legal)to paste chart from DW. Cut & paste does not seem to work. Chart format doesn't display properly.