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Point & Go Figure



Below are some charts that caught my eye, as well as some that were requested by Minyans. If you would like a chart reviewed, let me know here.

I have added text and illustrations to the charts where necessary.

All charts courtesy Dorsey, Wright & Associates.

CNOOC Limited (CEO)
Now that Unocal (UCL) is a rearview mirror memory, CEO has broken a triple bottom at 69; trendline support at 63.

GlobalSantaFe Corporation (GSF)
GSF has broken a double bottom at 44, but this follows the unbroken double top at 48, which is the definition of a shakeout pattern, a bullish formation that serves to shakeout weak holders of a stock. Support is at 40.

Murphy Oil Corp (MUR)

Sealed Air Corporation (SEE)
SEE has moved to the bottom of its 18-month range.

Crude Oil Continuous
Crude Oil continuous chart has given a new sell signal; the downside count is to 56, still above long-term trendline support in the 53 area.

Biotech HOLDRs Trust (BBH)
The BBH has met the long-term price objective of 200, established with the April breakout at 146. Price objectives are not written in stone, but in terms of evaluating potential reward based on risk they do assist in judging entry points.

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No positions in stocks mentioned.

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