SI
SI
discoversearch

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: Bwe who wrote (11032)12/6/1998 9:00:00 PM
From: Smooth Drive  Respond to of 34816
 
Hello Bruce (TLAB)

TLAB is an interesting chart. I don't hand chart so I took the info with permission from the Scobey site: scobey-point-figure.com.

Your comments restated as follows:

TLAB is a recent Zacks Investment Research recommendation and a stock with an interesting chart. The BRL from the July $93 high is currently being challenged at $60. The RS chart turned up in November and $61 would indicate a spread double top buy signal and, more importantly, would break the Bearish Resistance Line. TLAB just broke out bullishly from a Triangle formation at $57 with a buy signal. At the current chart notation of $60, TLAB has major resistance from the BRL and a Bullish Resistance Line. A revised BSL is at $55, a STUL is at $56, and the official BSL is at $45. A Bullish Resistance Line would provide an obstacle at $68 The bullish po is $80.
TLAB has very bullish earnings prospects with FY98 expected to rise 41% year over year to $1.91 from $1.35. FY99 is expected to come in at $2.36, a 24% increase. Zacks chooses stocks based on rising eps estimates with reasonable valuations a primary consideration. I would expect estimates for TLAB to rise over the coming months.
Like LU, TLAB is a stock that is trading substantially below it's highs (55%) and an impending BRL break makes TLAB a stock worth watching.
All IMHO,
Bruce


65
64                   * < Bearish Resistance Line
63                     *
62                       *
61 Count this              * ? < Spread Double Top    
60 column of X's >   X       X 
59                   X O   + X
58                   X O +   X < Buy Signal Breaking Triangle 
57           X   X   X O X   X   Formation
56           X O X O X O X O X
55           X O X O X O X O X + < Revised Bullish Support Line
54           X O X O X O X O X
53           X O X O X O   O
52           X O   O X O +
51       X   X     O X + < Last Sell Signal at 51
50       X O X     O + 
49       X O X     +
48 O     X O X
47 O     X O
46 O     X
45 O     X                     + < Unoffical <G> Bullish Support Line
44 O     X                   +
43 O     X                 +
42 O     X               +
41 O X   X             +
40 O X O X           +
39 O X O X         +
38 O X O         +
37 O X         +
36 O X       +
35 O X     +
34 O X   +
33 O X +
32 O +
31 +
30


I refer to this chart as long term bearish (trading below the Bearish Resistance Line) and short term bullish (on a buy signal).

Bullish Price Objective via the Chartcraft method: To determine this find the most recent buy signal (at 58) then find where the previous sell signal took place (at 51) and find the low since that sell signal (at 50) was given. Then count the number of X's occurring in the first column of X's after the referenced low of the sell signal (a total of 10): Number of X's times reversal requirement times box size plus add to lowest O. ((10*3)*1)+ 50 = 80

Take care,

Eric



To: Bwe who wrote (11032)12/7/1998 5:40:00 PM
From: Judy  Respond to of 34816
 
TLAB broke through its bearish resistance line today, Bruce. Good job.


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News