WEBEX COMMUNICATIONS
(WEBX-Nasdaq):
Technical Viewpoint: From a low
of $18.60 on Jan 29, 2004 prices
rallied, reaching a
high of $27.31
on Feb 2, 2004. A
decline saw prices pull back, reaching a
low of
$24.30 on Feb 24, 2004.
Another rally saw prices penetrate
resistance, closing 3/4/04
at $29.20. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Feb 4, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $26.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Mar 4, 2004. A P&F upside
reversal takes place at $0. Summary: Technical indicators have turned bullish. BUY! WEBEX COMMUNICATIONS
(WEBX-Nasdaq) @ $29.25 Stop: Use a protective stop of $27.25.
WEBEX COMMUNICATIONS is currently trading @ $29.20 plus $2.89 on Mar 4, 2004. Price Objective:
$40.50. Risk/Reward: $2.00 VS. $11.25. Today's Risk Reward Ratio: 6:1
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