EZ-PnF V2.0U Sample chart of NOVL (02/05/98):

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.
• Six possible support prices and six 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 point.
• NOVL is trading within an overall bearish trading channel. Currently, NOVL has given a 'buy' signal and is in an uptrend column ('X'). Resistance may be seen at points R1 through R6. Support may be seen at points S1, S2, and S3. If the current uptrend column ('X') continues, resistance point R1 must be exceeded, on volume, to break out of the overall bearish trading channel.

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