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REDBACK NETWORKS
(RBAK-Nasdaq):
Technical Viewpoint: From a low
of $56 1/2 on May 22, 2000 prices
rallied, reaching a
high of $122 1/2
on Jun 5, 2000. A
decline saw prices pull back, reaching a
low of
$103 1/8 on Jun 13, 2000.
Another rally saw prices penetrate
resistance, closing 6/26/00
at $154.56. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jun 2, 2000 when the Histogram crossed the "0" line to the upside.
Support: Remains at $132.00. Resistance: Is at $164.00.
Point & Figure: Reversed to the upside on Jun 26, 2000. A P&F upside
reversal takes place at $140.00. Summary: Technical indicators have turned bullish. BUY! REDBACK NETWORKS
(RBAK-Nasdaq) @ $155 7/8 Stop: Use a protective stop of $152 3/4.
REDBACK NETWORKS is currently trading @ $154.56 plus $19.06 on Jun 26, 2000. Price Objective:
$180.00. Risk/Reward: $3 1/8 VS. $24 1/8. 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:
$180.00
Risk/Reward:
$3 1/8 VS. $24 1/8
Risk/Reward Ratio:
8:1
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