EZ-PnF V2.1 Sample chart of AMD (03/24/98):
- 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.
- Three possible support prices and four 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
- AMD is trading within a newly formed overall bullish trading channel.
Currently, AMD appears to be forming a triangle pattern within the bullish
trading channel. AMD is currently in an uptrend column ('X') and at resistance
point R1. A move above $24.50 on volume would be a very bullish signal.
The price objective, based on the vertical count is $35.50. Support
may be seen at points S1, S2, and S3. S2 must hold to maintain the overall
bullish trading channel.
EZ-PnF © Copyright 1992,1998 by Ben
Antanaitis, Jr., All Rights Reserved.