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WRIGHT MEDICAL
(WMGI-Nasdaq):
Technical Viewpoint: From a low
of $27.03 on Dec 22, 2003 prices
rallied, reaching a
high of $31.20
on Jan 5, 2004. A
decline saw prices pull back, reaching a
low of
$29.24 on Jan 9, 2004.
Another rally saw prices penetrate
resistance, closing 1/29/04
at $32.95. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Dec 23, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $30.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jan 29, 2004. A P&F upside
reversal takes place at $32.20. Summary: Technical indicators have turned bullish. BUY! Wright Medical
(WMGI-Nasdaq) @ $33.38 Stop: Use a protective stop of $31.38.
Wright Medical is currently trading @ $32.95 plus $1.91 on Jan 30, 2004. Price Objective:
$48.00. Risk/Reward: $2.00 VS. $14.62. Today's Risk Reward Ratio: 7:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$48.00
Risk/Reward:
$2.00 VS. $14.62
Risk/Reward Ratio:
7:1
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