EZ-PnF V2.2 Sample chart of IBM(05/11/99):

Notes:

• 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 resistance prices and two possible support 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 point.
• IBM is trading within an overall bullish trading channel. Currently, IBM has broken out to the upside after having traded 'sideways' for almost 4 months. IBM is currently in a strong uptrend column ('X').The current vertical count price objective is $292. Resistance may be seen at points R1 thru R4. Support may be seen at points S1, or S2.  Support point S2 must hold to preserve the overall bullish trading channel.