EZ-PnF V2.1 Sample chart of IOM(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 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
- IOM is trading within an overall bearish trading channel. IOM is
trading in a bearish trading trend within the overall bearish trading channel.
IOM is currently in an uptrend column ('X'). Resistance may be seen at
points R1 through R5. R5 must be exceeded on volume to break out of
the overall bearish trading channel. Support may be seen at points S1,
S2, and S3.
EZ-PnF © Copyright 1992,1998 by Ben
Antanaitis, Jr., All Rights Reserved.