SOVEREGN BANCORP
(SOV-NYSE):
Technical Viewpoint: From a low
of $20.01 on Sep 8, 2006 prices
rallied, reaching a
high of $21.88
on Sep 14, 2006. A
decline saw prices pull back, reaching a
low of
$21.20 on Oct 3, 2006.
Another rally saw prices penetrate
resistance, closing 10/5/06
at $24.10. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 6, 2006 when the Histogram crossed the "0" line to the upside.
Support: Remains at $18.50. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Mar 21, 2006. A P&F upside
reversal takes place at $21.00. Summary: Technical indicators have turned bullish. BUY! SOVEREGN BANCORP
(SOV-NYSE) @ $24.50 Stop: Use a protective stop of $22.50.
SOVEREGN BANCORP is currently trading @ $24.10 plus $2.50 on Oct 6, 2006. Price Objective:
$37.50. Risk/Reward: $2.00 VS. $13.00. Today's Risk Reward Ratio: 6:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$37.50
Risk/Reward:
$2.00 VS. $13.00
Risk/Reward Ratio:
6:1
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