HOVNANIAN ENTERPRISES
(HOV-NYSE):
Technical Viewpoint: From a low
of $30.99 on Aug 12, 2004 prices
rallied, reaching a
high of $42.17
on Sep 22, 2004. A
decline saw prices pull back, reaching a
low of
$33.78 on Oct 20, 2004.
Another rally saw prices penetrate
resistance, closing 12/10/04
at $46.35. Technicals: RSI Index (RSI): A Buy Alert!
was given on Dec 10, 2004 when the solid line crossed the dotted line to the upside.
Support: Remains at $40.50. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Dec 10, 2004. A P&F upside
reversal takes place at $44.00. Summary: Technical indicators have turned bullish. BUY! HOVNANIAN ENTERPRISES
(HOV-NYSE) @ $47.25 Stop: Use a protective stop of $45.25.
HOVNANIAN ENTERPRISES is currently trading @ $46.35 plus $4.25 on Dec 12, 2004. Price Objective:
$62.50. Risk/Reward: $2.00 VS. $17.25. Today's Risk Reward Ratio: 8:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$62.50
Risk/Reward:
$2.00 VS. $17.25
Risk/Reward Ratio:
8:1
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