FOREST LABORATORIES
(FRX-NYSE):
Technical Viewpoint: From a low
of $48.81 on Nov 11, 2003 prices
rallied, reaching a
high of $53.86
on Nov 14, 2003. A
decline saw prices pull back, reaching a
low of
$50.70 on Nov 21, 2003.
Another rally saw prices penetrate
resistance, closing 11/25/03
at $54.30. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 16, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $51.75. Resistance: Is at $55.10.
Point & Figure: Reversed to the upside on Nov 25, 2003. A P&F upside
reversal takes place at $51.75. Summary: Technical indicators have turned bullish. BUY! FOREST LABORATORIES
(FRX-NYSE) @ $54.63 Stop: Use a protective stop of $52.13.
FOREST LABORATORIES is currently trading @ $54.30 plus $2.06 on Nov 25, 2003. Price Objective:
$69.00. Risk/Reward: $2.50 VS. $14.38. Today's Risk Reward Ratio: 6:1
|
Click here to view full size chart
|