METROMEDIA FIBER
(MFNX-Nasdaq):
Technical Viewpoint: From a low
of $29 5/8 on Oct 18, 1999 prices
rallied, reaching a
high of $45 1/4
on Nov 17, 1999. A
decline saw prices pull back, reaching a
low of
$35 3/8 on Dec 6, 1999.
Another rally saw prices penetrate
resistance, closing 12/16/99
at $46.06. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 7, 1999 when the Histogram crossed the "0" line to the upside.
Support: Remains at $41 1/2. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Dec 16, 1999. A P&F upside
reversal takes place at $43 1/2. Summary: Technical indicators have turned bullish. BUY! METROMEDIA FIBER
(MFNX-Nasdaq) @ $46 1/4 Stop: Use a protective stop of $43 1/2.
METROMEDIA FIBER is currently trading @ $46.06 plus $4 1/4 on Dec 16, 1999. Price Objective:
$65.00. Risk/Reward: $2 3/4 VS. $18 3/4. Today's Risk Reward Ratio: 7:1
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