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Gold/Mining/Energy : Weatherford International (WFT) -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (65)	9/15/1998 7:07:00 PM
From: Bwe	Read Replies (2) \| Respond to of 142

Hi Doug.....The descriptions I'm about to give with regard to EVI's p&f chart must be taken in the context of a trading situation. This is because p&f chartist's use two main criteria to take the long term temperature of a stock in order to decide if the stock's main trend is bullish or bearish. Since EVI has bearish relative strength and is trading below it's Bearish Resistance Line (BRL) from the May, $58 high, EVI's main trend is said to be down. With that being said, we can look at the stock from a traders perspective. EVI gave a double top buy at $18 with a price objective of $22.50. At $25 the stock ran right into a Bullish Resistance Line (brl) and that was a good place to take profits on this trade. EVI will reverse into a column of O's (declining prices) at $22 and will give it's next p&f sell signal at $15. There's also short term support at $22 from a former short term resistance line. The relative strength chart is not too far away from reversing into an up column for the first time since a short lived reversal in May. It has been all downhill vs the Dow since October '97 except for that brief reversal in May. I'll keep the board updated on the future progress of EVI's p&f chart. Take care, Bruce