LEVEL 3 COMMUNICATIONS
(LVLT-Nasdaq):
Technical Viewpoint: From a low
of $45 1/4 on Aug 11, 1999 prices
rallied, reaching a
high of $65 5/8
on Sep 3, 1999. A
decline saw prices pull back, reaching a
low of
$49 7/8 on Oct 1, 1999.
Another rally saw prices penetrate
resistance, closing 10/7/99
at $62 1/2. Technicals: MACD Index (MACD): A Buy Alert!
was given on Oct 6, 1999 when the solid line crossed the dotted line to the upside.
Support: Remains at $57 1/2. Resistance: Is at $65 5/8.
Point & Figure: Reversed to the upside on Oct 5, 1999. A P&F upside
reversal takes place at $58 1/2. Summary: Technical indicators have turned bullish. BUY! LEVEL 3 COMMUNICATIONS
(LVLT-Nasdaq) @ $63 1/8 Stop: Use a protective stop of $60 3/8.
LEVEL 3 COMMUNICATIONS is currently trading @ $62 1/2 plus $4.56 on Oct 7, 1999. Price Objective:
$97 1/2. Risk/Reward: $2 3/4 VS. $34 3/8. Today's Risk Reward Ratio: 12:1
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