VULCAN MATERIALS CO
(VMC-NYSE):
Technical Viewpoint: From a low
of $36.24 on Jul 1, 2003 prices
rallied, reaching a
high of $38.85
on Jul 8, 2003. A
decline saw prices pull back, reaching a
low of
$36.20 on Jul 25, 2003.
Another rally saw prices penetrate
resistance, closing 7/28/03
at $39.83. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jul 29, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $37.75. Resistance: Is at $40.70.
Point & Figure: Reversed to the upside on Jul 29, 2003. A P&F upside
reversal takes place at $38.50. Summary: Technical indicators have turned bullish. BUY! VULCAN MATERIALS CO
(VMC-NYSE) @ $40.13 Stop: Use a protective stop of $38.13.
VULCAN MATERIALS CO is currently trading @ $39.83 plus $2.05 on Jul 29, 2003. Price Objective:
$59.00. Risk/Reward: $2.00 VS. $18.88. Today's Risk Reward Ratio: 9:1
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