StockCharts Blogs - Don't Ignore This Chart!

A Bullish PnF Chart for Activision

This long-term PnF chart for Activision extends back to 2003 when the stock was trading in the low single digits. After rising above 19, the stock went into corrective mode in 2008 and broke out in 2009. With the May-June (5-6 on the chart) breakout, ATVI has a bullish price objective of 22.5.

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Quadrupal Top Breakout Now Faltering (CPSI)

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CPSI has had a pretty impressive P&F chart for a while now.  On March 16th, it completed a Quadrupal Top Breakout pattern that is, technically, still in place today.  The problem is that CPSI is dangerously close to reversing right now with the potential to fall back below that huge support/resistance level at 29-30.

Catapulting Bulls (PL)

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The "Bullish Catapult" P&F pattern is a great way to find stocks that are breaking out above resistance.  Today, Protective Life Corp. (PL) was the only high volume stock to create a new Bullish Catapult pattern when it moved above 6.0.  Right now, the catapult line is short but the P&F Price Objective is at PL's recent support line of 8.0.

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S&P Bullish Percent Chart Turning Upwards ($BPSPX)

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Bullish Percent charts track the percentage of stocks in a specified group that have a P&F "Buy Signal" on their charts.  While the large-scale Bullish Percent indexes - the NYSE's ($BPNYA) and the Nasdaq's ($BPCOMPQ) - are still in a downward column of O's, the S&P 500's ($BPSPX) reversed today(!) and is heading higher.  Will the others follow the S&P 500's lead?

Quadruple Bottom P&F Breakdown for Target (TGT)

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Target Corp's Point and Figure chart broke below the bottom of the Quadruple Bottom Pattern that it had put in over the past 5 weeks.  See the 4 "O's" in the boxes at 32?  Those "O's" formed the bottom of the pattern.  Today's decline to 30.20 filled in the 31 and 30 boxes, signaling the breakdown.