CEDANT CORP
(CD-NYSE):
Technical Viewpoint: From a low
of $21.57 on May 10, 2004 prices
rallied, reaching a
high of $24.45
on Jun 18, 2004. A
decline saw prices pull back, reaching a
low of
$23.57 on Jun 22, 2004.
Another rally saw prices penetrate
resistance, closing 7/8/04
at $24.94. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jun 8, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $24.21. Resistance: Is at $25.19.
Point & Figure: Reversed to the upside on Jun 30, 2004. A P&F upside
reversal takes place at $22.50. Summary: Technical indicators have turned bullish. BUY! CEDANT CORP
(CD-NYSE) @ $25.13 Stop: Use a protective stop of $23.13.
CEDANT CORP is currently trading @ $24.94 plus $0.78 on Jul 8, 2004. Price Objective:
$37.50. Risk/Reward: $2.00 VS. $12.37. Today's Risk Reward Ratio: 6:1
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