EZ-PnF V2.1 Sample chart of LU (05/19/98):
- 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
- LU is trading within an overall bullish trading channel. LU seems
to be forming a triangle breakout pattern within the overall bullish trading
channel. The direction of the breakout is not yet determined. LU is currently
in a downtrend column ('O'). Resistance may be seen at points R1 through
R3. Should the downtrend column ('O') reverse, resistance may be seen at
points R1 through R3.
EZ-PnF © Copyright 1992,1998 by Ben
Antanaitis, Jr., All Rights Reserved.