REDBACK NETWORKS
(RBAK-Nasdaq):
Technical Viewpoint: From a low
of $131 1/2 on Aug 29, 2000 prices
rallied, reaching a
high of $154.81
on Sep 5, 2000. A
decline saw prices pull back, reaching a
low of
$124 3/8 on Sep 13, 2000.
Another rally saw prices penetrate
resistance, closing 9/27/00
at $168.00. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Sep 19, 2000 when the Histogram crossed the "0" line to the upside.
Support: Remains at $152 1/2. Resistance: Is at $168 3/4.
Point & Figure: Reversed to the upside on Sep 27, 2000. A P&F upside
reversal takes place at $163 3/4. Summary: Technical indicators have turned bullish. BUY! REDBACK NETWORKS
(RBAK-Nasdaq) @ $168 1/2 Stop: Use a protective stop of $165 1/2.
REDBACK NETWORKS is currently trading @ $168.00 plus $12 1/8 on Sep 27, 2000. Price Objective:
$200.00. Risk/Reward: $3.00 VS. $31 1/2. Today's Risk Reward Ratio: 10:1
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