COVANCE INC
(CVD-NYSE):
Technical Viewpoint: From a low
of $17.63 on Sep 13, 2002 prices
rallied, reaching a
high of $20.30
on Sep 26, 2002. A
decline saw prices pull back, reaching a
low of
$17.90 on Oct 8, 2002.
Another rally saw prices penetrate
resistance, closing 10/24/02
at $21.65. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 24, 2002 when the Histogram crossed the "0" line to the upside.
Support: Remains at $20.00. Resistance: Is at $23.49.
Point & Figure: Reversed to the upside on Oct 24, 2002. A P&F upside
reversal takes place at $20.00. Summary: Technical indicators have turned bullish. BUY! COVANCE INC
(CVD-NYSE) @ $22.13 Stop: Use a protective stop of $20.13.
COVANCE INC is currently trading @ $21.65 plus $2.55 on Oct 24, 2002. Price Objective:
$34.00. Risk/Reward: $2.00 VS. $11.88. Today's Risk Reward Ratio: 6:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$34.00
Risk/Reward:
$2.00 VS. $11.88
Risk/Reward Ratio:
6:1
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