EZ-PnF V2.0U Sample chart of NOVL (02/27/98):
- 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.
- Seven possible support prices and five 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
- NOVL is now tradinging in an overall bullish trading channel. Currently,
NOVL has given a second 'buy' signal and is in an uptrend column ('X').
NOVL has, however, reached it's inital vertical count Price Objective of
$10.75 and resistance at point R1 may be hard to overcome without a pullback.
Resistance may be seen at points R1 through R5. Support may be seen at
points S1 through S7. S6 must hold to preserve the overall bullish trading
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Page last updated: 03/02/98