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CONEXANT SYSTEMS INC
(CNXT-Nasdaq):
Technical Viewpoint: From a low
of $34.00 on May 5, 1999 prices
rallied, reaching a
high of $42 1/4
on May 13, 1999. A
decline saw prices pull back, reaching a
low of
$34.00 on May 26, 1999.
Another rally saw prices penetrate
resistance, closing 6/3/99
at $43 7/8. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Jun 2, 1999 when the solid line crossed the dotted line to the upside.
Support: Remains at $40.00. Resistance: Is at $45.00.
Point & Figure: Reversed to the upside on May 27, 1999. A P&F upside
reversal takes place at $41.00. Summary: Technical indicators have turned bullish. BUY! CONEXANT SYSTEMS INC
(CNXT-Nasdaq) @ $44 5/8 Stop: Use a protective stop of $41 3/4.
CONEXANT SYSTEMS INC is currently trading @ $43 7/8 plus $4.00 on Jun 3, 1999. Price Objective:
$58.00. Risk/Reward: $2 7/8 VS. $13 3/8. 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:
$58.00
Risk/Reward:
$2 7/8 VS. $13 3/8
Risk/Reward Ratio:
4:1
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