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

To: chartseer who wrote (11778)	12/19/1998 6:53:00 PM
From: HiSpeed	Read Replies (1) \| Respond to of 34811

What is the next target for I-beam? IMO the stock is becoming over extended.

To: chartseer who wrote (11778)	12/20/1998 2:11:00 PM
From: Bwe	Read Replies (3) \| Respond to of 34811

Carnival Cruise Lines (CCL) is a stock that I've written about in the past and I wanted to update the price objective for this fine company. The price objective for CCL as arrived at by vertical count is $79. Trendline resistance at $40, $48, and $57. Support at $37, $34, and $27. Some are still left holding the bag with their July buys at $42. With the stock at $39 3/4 and having just given a Bullish Catapult at $41, when this overhead and trendline resistance is cleared, CCL should continue it's ascent and continue to be a market leader. The stock is up 45% thus far this year, doubling the 22% of the S&P 500, and handily beating the NASDAQ Comp which is up 33% YTD. Royal Caribbean Cruise Lines (RCL), another fine company, has a more modest multiple, but has trailed the market gaining 18% on the year. RCL is coming off a Bearish Signal Reversed which led to a break of the BRL, however, the stock is one box away from a High Pole at the Bearish Resistance Line at $29. Both stocks have bullish RS and are in X's. Enjoy the rest of the weekend. By the way, "Prince of Egypt" was a *** 1/2 gem that will be enjoyed by both adults and children for many years to come. Take care, Bruce (The Roger Ebert of the P&F Charting thread)