DORAL FINANCIAL CORP
(DRL-NYSE):
Technical Viewpoint: From a low
of $30.40 on May 10, 2004 prices
rallied, reaching a
high of $34.31
on Jun 7, 2004. A
decline saw prices pull back, reaching a
low of
$33.01 on Jun 14, 2004.
Another rally saw prices penetrate
resistance, closing 7/6/04
at $36.58. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jun 7, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $34.38. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jul 2, 2004. A P&F upside
reversal takes place at $35.00. Summary: Technical indicators have turned bullish. BUY! DORAL FINANCIAL CORP
(DRL-NYSE) @ $36.63 Stop: Use a protective stop of $34.63.
DORAL FINANCIAL CORP is currently trading @ $36.58 plus $1.31 on Jul 6, 2004. Price Objective:
$49.00. Risk/Reward: $2.00 VS. $12.38. Today's Risk Reward Ratio: 6:1
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