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

To: Dana Johnson who wrote (14800)	3/2/1999 8:19:00 AM
From: wizzards wine	Read Replies (2) \| Respond to of 34825

Morning Dana, regarding HWP ...Rs is X's and the recient action of two DBS's at 70 and then 66 with it falling to a low of 64 just above the BSL at 63 leave one to look at your long term plan... The normal action if you have held to this point would be look at the next levels of support...thsoe being the BSL at 63, then 58-59 and then way down at 49... Not knowing your plan or entry point, a violation of the BSL is often used as the long term sell trigger and many timess the stronger issues will bounce up off of the BSL...however that said, sometimes they violate the support line only by a few boxes ...to then make the bounce up.... With most all of the indicators negative still and the new sell signals outweighing the new buy signals, I'd tend to look at a violation of the BSL as a more negative thing...JMHO Good luck and hope you had a plan going in??? Later Preston