EZ-PnF V2.0U Sample chart of IOM(02/05/98):
- 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 three 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. Currently,
IOM appears to be in a 'retracement' after a 'long tail down' formation;
having been taken out and shot after the last Q conference call. IOM is
currently in an uptrend column ('X'). Resistance may be seen at points
R1 through R3. Support may be seen at points S1, S2, S3 and S4. If the
uptrend column ('X') can continue resistance point R3 must be exceeded
on volume to break out of the overall bearish trading channel.
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Page last updated: 02/06/98