Thursday, September 24, 2009
DRV Develops Double Top Breakout & SCO Develops Triple Top Breakout on P&F Chart
Point & Figure Charts consist of columns of X's (showing price rises) and O's (showing price falls) arranged on a square grid. When the index increases, a rising column of black X's is created – a rally. When the index falls, a descending column of red O's appears – a decline. SCO developed a Triple Top Breakout on the P&F Chart. The price target is 25. (25-19.07)/19.07=31.1% rise. DRV developed a Double Top Breakout. The price target is 28.5. (28.5-21.18)/21.18=34.6% rise.
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