Point & Figure charts, according to stockcharts.com, “consist of columns of X’s and O’s that represent filtered price movements. X-Columns represent rising prices and O-Columns represent falling prices. Each price box represents a specific value that price must reach to warrant an X or an O. Time is not a factor in P&F charting. These charts evolve as prices move. No movement in price means no change in the P&F chart. In classic 3-box reversal charts, column reversals are further filtered requiring a 3-box minimum to reverse the current column. The 3-box Reversal Method is the most popular P&F charting method.”
Another thing to consider with Point & Figure Charts is that time is irrelevant. A difficult concept to grasp, but there are so many who use it to ‘chart’ their course that it is difficult, if not downright absurd, to dismiss it without further study.
One of the many interesting aspects of point & figure charting is price objectives are easier to discern. How correct they are remains to be seen, but I am considering them presently. Time (which is irrelevant!) will tell!
So, in light of that, I present this group of hand-picked stock symbols with their PnF charts. This group is either owned by me (WMC, PGH), or under consideration for addition to our portfolio in the foreseeable future (O, IHE, RETL, REZ), and/or may contain other interesting and/or somehow important symbols to me. YMMV, of course!
Here are the P&F charts for this group;