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

To: John Post who wrote (20783)	6/2/1999 7:34:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34811

ONXX pulled right back to its BSL today. This changes the shape of the possible triangle because todays pullback creates a double bottom not a higher bottom. We will have to wait and see what it does. This could be a good trade entry with 6.5 as the stop. Your trade objective would be to 11 or 12. Take care, Jan I am Oh, the PO. I used the resistance area. For the count you use the column of X's that create a buy signal after the last sell signal. In this case that would be the X's created in December just before the column with the 1 in it. Count those X's and you have 4. 4 X 3 is 12 divided by .5 is 6. Add that to the bottom of the X's which is 5.5 and you have a count of 11.5 which is exactly where the stock rallied to in April. Looks like a nice trade possibility John.