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MICHAELS STORES INC
(MIK-NYSE):
Technical Viewpoint: From a low
of $35.10 on Apr 3, 2002 prices
rallied, reaching a
high of $42.23
on May 2, 2002. A
decline saw prices pull back, reaching a
low of
$37.65 on May 30, 2002.
Another rally saw prices penetrate
resistance, closing 5/31/02
at $43.45. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Mar 3, 2002 when the Histogram crossed the "0" line to the upside.
Support: Remains at $41.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on May 31, 2002. A P&F upside
reversal takes place at $41.25. Summary: Technical indicators have turned bullish. BUY! MICHAELS STORES INC
(MIK-NYSE) @ $43.75 Stop: Use a protective stop of $41.25.
MICHAELS STORES INC is currently trading @ $43.45 plus $4.95 on May 31, 2002. Price Objective:
$53.00. Risk/Reward: $2.50 VS. $9.25. Today's Risk Reward Ratio: 4:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$53.00
Risk/Reward:
$2.50 VS. $9.25
Risk/Reward Ratio:
4:1
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