Elementis - £1 in 2005?

Point & Figure Charts.

I have examined the charts from a different perspective this week and carried out predicting the sp target by using a horizontal count of the period the share was in the doldrums (ie below 47p approx).

The short term chart (0.5 x 3) clearly shows that the old down trend is having an effect but, as long as the sp stays at or above 70.5p, the recent uptrend is still well in place.



The medium term chart (1 x 3) indicates that 72p is the figure required to maintain the uptrend.



72p is also important for the long term chart (2 x 3) because the horizontal count has neither been established nor activated. A reversal to 72p (6p from the chart high) is required to establish the count and then a movement up to 80p or above is required to activate the count.



All in all, I'm still very confident for the future. Don't forget that P & F charts are not time orientated and therefore there is no time-scale to these predicted targets. I must also point out that I am not a qualified chartist and the views expressed are solely my own. DYOR.

Neil