APPROACH RESOURCES
(AREX-Nasdaq):
Technical Viewpoint: From a low
of $21.93 on May 17, 2011 prices
rallied, reaching a
high of $26.70
on May 27, 2011. A
decline saw prices pull back, reaching a
low of
$19.13 on Jun 20, 2011.
Another rally saw prices penetrate
resistance, closing 7/15/11
at $25.67. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jun 24, 2011 when the solid line crossed the dotted line to the upside.
Support: Remains at $24.95. Resistance: Is at $25.92.
Point & Figure: Reversed to the upside on Jul 15, 2011. A P&F upside
reversal takes place at $24.00. Summary: Technical indicators have turned bullish. BUY! APPROACH RESOURCES
(AREX-Nasdaq) @ $25.88 Stop: Use a protective stop of $23.88.
APPROACH RESOURCES is currently trading @ $25.67 plus $2.51 on Jul 15, 2011. Price Objective:
$36.50. 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:
$36.50
Risk/Reward:
$2.00 VS. $10.62
Risk/Reward Ratio:
5:1
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