PSINET INC
(PSIX-Nasdaq):
Technical Viewpoint: From a low
of $19 5/8 on Apr 14, 2000 prices
rallied, reaching a
high of $27 3/8
on Apr 19, 2000. A
decline saw prices pull back, reaching a
low of
$18 1/8 on Apr 27, 2000.
Another rally saw prices penetrate
resistance, closing 5/16/00
at $30.00. Technicals: MACD Index (MACD): A Buy Alert!
was given on Apr 28, 2000 when the solid line crossed the dotted line to the upside.
Support: Remains at $24 3/4. Resistance: Is at $33 1/2.
Point & Figure: Reversed to the upside on May 1, 2000. A P&F upside
reversal takes place at $25 1/2. Summary: Technical indicators have turned bullish. BUY! PSINET INC
(PSIX-Nasdaq) @ $30 3/8 Stop: Use a protective stop of $28 1/8.
PSINET INC is currently trading @ $30.00 plus $4 7/8 on May 16, 2000. Price Objective:
$46 1/2. Risk/Reward: $2 1/4 VS. $16 1/8. Today's Risk Reward Ratio: 7:1
|
Click here to view full size chart
|