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

To: Quest who wrote (7517)	9/21/1998 5:03:00 PM
From: Bwe	Read Replies (1) \| Respond to of 34811

Quest, here's how you would compute the current bullish price objective for Amgen: AMGN gave a double top buy signal at $67. You then find the low point that resulted after the last p&f sell signal and that was $58. Count the number of X's in the very next column of X's to the right of the low point. You will see that there are 8 X's that run from $59 - $66. Take 8 and multiply by 3 which is the multiplier used when computing bullish po's. 8 x 3 = 24. Then multiply the result by the box size each box represents at the current position on the particular stock's p&f chart. In AMGN's case, each box represents $1 as it's current chart position is between $20 - $100. $24 x $1 = $24. Take that result and add it to the lowpoint which you'll recall is $58. $58 + $24 = $82. There you have it, AMGN's bullish price objective is $82. Take care, Bruce PS- By the way, Amgen showed very bullish chart action today. The stock gave another confirming double top buy signal, a catapult off the original double top buy signal, and the odds are quite good that the stock will reach it's po. Additionally, the stock broke it's BRL from the July, $79 high at $70, and with the stock's bullish RS, the main trend of the stock is positively bullish.