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: Iceberg who wrote (9018)	10/24/1998 11:57:00 AM
From: wizzards wine	Respond to of 34810

Yes Ice I believe that you have the general picture, a New intra day high that exceeds previous levels of resistance will give a New Buy signal by hitting a minimun required advance greater that the previous advance... Example the issue is at 20 3/8 and is in X's up to 20...todays action closes at 24 7/8 but the high was 26 1/16...This issue would then get X's up to 26 as the issue made a 26 even or greater, even though it closed at 24 7/8's... Thus resistance is now at 26 or the high for the day and not the close as the issue has already exceeded that point... Similar things happen with the lows for the day when a stock is in a column of O's... If you have not yet read the BOOK, it will help you get the basics down and then explore the more advanced issues...I keep it next to the computer at ALL times just like a BIBLE>>> Hope that helps, Later Preston