WRIGHT MEDICAL
(WMGI-Nasdaq):
Technical Viewpoint: From a low
of $26.45 on Nov 20, 2003 prices
rallied, reaching a
high of $29.89
on Dec 9, 2003. A
decline saw prices pull back, reaching a
low of
$27.03 on Dec 22, 2003.
Another rally saw prices penetrate
resistance, closing 2/13/04
at $34.22. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Dec 23, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $33.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jan 29, 2004. A P&F upside
reversal takes place at $33.00. Summary: Technical indicators have turned bullish. BUY! WRIGHT MEDICAL
(WMGI-Nasdaq) @ $34.63 Stop: Use a protective stop of $32.63.
WRIGHT MEDICAL is currently trading @ $34.22 plus $1.05 on Feb 13, 2004. Price Objective:
$45.00. Risk/Reward: $2.00 VS. $10.37. Today's Risk Reward Ratio: 5:1
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