MELLON FINANCIAL CORP
(MEL-NYSE):
Technical Viewpoint: From a low
of $37.61 on Apr 4, 2001 prices
rallied, reaching a
high of $43.37
on Apr 18, 2001. A
decline saw prices pull back, reaching a
low of
$40.30 on May 1, 2001.
Another rally saw prices penetrate
resistance, closing 5/4/01
at $42.71. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Apr 24, 2001 when the Histogram crossed the "0" line to the upside.
Support: Remains at $40.72. Resistance: Is at $43.26.
Point & Figure: Reversed to the upside on May 3, 2001. A P&F upside
reversal takes place at $40.72. Summary: Technical indicators have turned bullish. BUY! MELLON FINANCIAL CORP
(MEL-NYSE) @ $42.87 Stop: Use a protective stop of $40.12.
MELLON FINANCIAL CORP is currently trading @ $42.71 plus $11.12 on May 3, 2001. Price Objective:
$53.00. Risk/Reward: $2.75 VS. $10.13. Today's Risk Reward Ratio: 4:1
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