BUY! ASA LTD (ASA) NYSE

  Report No. 1764    Analysis by: Harry Aloof     MAY 20, 2003

ASA LTD (ASA-NYSE): Technical Viewpoint: From a low of $32.05 on Mar 27, 2003 prices rallied, reaching a high of $37.15 on Apr 21, 2003. A decline saw prices pull back, reaching a low of $33.75 on Apr 29, 2003. Another rally saw prices penetrate resistance, closing 5/19/03 at $38.10. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Apr 17, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $36.75. Resistance: Is at $38.84. Point & Figure: Reversed to the upside on May 6, 2003. A P&F upside reversal takes place at $35.25. Summary: Technical indicators have turned bullish. BUY! ASA LTD (ASA-NYSE) @ $38.25 Stop: Use a protective stop of $36.25. ASA LTD is currently trading @ $38.10 plus $1.88 on May 19, 2003. Price Objective: $50.25. Risk/Reward: $2.00 VS. $12.00. Today's Risk Reward Ratio: 6:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$50.25 Risk/Reward:
$2.00 VS. $12.00 Risk/Reward Ratio:
6:1
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