EZ-PnF V2.1 Sample chart of IOM(04/21/98):
- The chart is a 3 box reversal Point and Figure chart.
- The chart is based on daily high and daily low prices.
- The chart is a 2% logrithmic chart, ie each chart box represents
a price change of 2% of the value of the box above or below it.
- Four possible support prices and seven possible resistance prices
are shown, as well as the support/resistance lines.
- A 'resistance' or 'support' point is a price where an issue's upward
or downward price movement may 'stall'. The ultimate result of the 'stall'
may be either a continuation or a reversal of price movement, depending
on whether there are more or less sellers than buyers at the specific price
- IOM is trading within an overall bearish trading channel. IOM is
trading in a bullish trading trend within the overall bearish trading channel.
IOM is currently in an uptrend column ('X') at support point S1. Resistance
may be seen at points R1 through R5. R4 must be exceeded on volume
to break out of the overall bearish trading channel. Support may be seen
at points S1 through S3. S3 must hold to preserve the bullish trading trend.
(4/22 update: R1 has been exceeded and IOM is now trading within the 'gap'
that occurred in Jan'98 R1->R3).
EZ-PnF © Copyright 1992,1998 by Ben
Antanaitis, Jr., All Rights Reserved.