CORRECTIONS CORP OF AMER
(CXW-NYSE):
Technical Viewpoint: From a low
of $43.21 on May 2, 2006 prices
rallied, reaching a
high of $51.36
on May 5, 2006. A
decline saw prices pull back, reaching a
low of
$47.80 on May 17, 2006.
Another rally saw prices penetrate
resistance, closing 5/19/06
at $50.45. Technicals: MACD Index (MACD): A Buy Alert!
was given on May 3, 2006 when the solid line crossed the dotted line to the upside.
Support: Remains at $47.80. Resistance: Is at $51.36.
Point & Figure: Reversed to the upside on May 18, 2006. A P&F upside
reversal takes place at $48.00. Summary: Technical indicators have turned bullish. BUY! CORRECTIONS CORP OF AMER
(CXW-NYSE) @ $50.75 Stop: Use a protective stop of $48.25.
CORRECTIONS CORP OF AMER is currently trading @ $50.45 plus $1.04 on May 19, 2006. Price Objective:
$60.00. Risk/Reward: $2.50 VS. $9.25. Today's Risk Reward Ratio: 4:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$60.00
Risk/Reward:
$2.50 VS. $9.25
Risk/Reward Ratio:
4:1
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