ADAPTEC INC
(ADPT-Nasdaq):
Technical Viewpoint: From a low
of $35 3/4 on Oct 18, 1999 prices
rallied, reaching a
high of $53.44
on Nov 15, 1999. A
decline saw prices pull back, reaching a
low of
$48.19 on Nov 17, 1999.
Another rally saw prices penetrate
resistance, closing 11/22/99
at $57 1/8. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 1, 1999 when the Histogram crossed the "0" line to the upside.
Support: Remains at $52 1/2. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Nov 18, 1999. A P&F upside
reversal takes place at $55 1/2. Summary: Technical indicators have turned bullish. BUY! ADAPTEC INC
(ADPT-Nasdaq) @ $57 7/8 Stop: Use a protective stop of $54 7/8.
ADAPTEC INC is currently trading @ $57 1/8 plus $4 7/8 on Nov 22, 1999. Price Objective:
$74.00. Risk/Reward: $3.00 VS. $16 1/8. Today's Risk Reward Ratio: 5:1
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