SPINNAKER EXPLORATION
(SKE-NYSE):
Technical Viewpoint: From a low
of $31.89 on Dec 31, 2004 prices
rallied, reaching a
high of $34.26
on Jan 13, 2004. A
decline saw prices pull back, reaching a
low of
$32.35 on Jan 16, 2004.
Another rally saw prices penetrate
resistance, closing 1/21/04
at $35.10. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Jan 21, 2004 when the solid line crossed the dotted line to the upside.
Support: Remains at $32.75. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jan 21, 2004. A P&F upside
reversal takes place at $33.50. Summary: Technical indicators have turned bullish. BUY! SPINNAKER EXPLORATION
(SKE-NYSE) @ $33.38 Stop: Use a protective stop of $31.38.
SPINNAKER EXPLORATION is currently trading @ $35.10 plus $1.60 on Jan 21, 2004. Price Objective:
$44.00. Risk/Reward: $2.00 VS. $10.62. Today's Risk Reward Ratio: 5:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$44.00
Risk/Reward:
$2.00 VS. $10.62
Risk/Reward Ratio:
5:1
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