LEVEL 3 COMMUNICATIONS
(LVLT-Nasdaq):
Technical Viewpoint: From a low
of $38 1/2 on Jan 13, 1999 prices
rallied, reaching a
high of $60 5/8
on Feb 4, 1999. A
decline saw prices pull back, reaching a
low of
$49.00 on Feb 18, 1999.
Another rally saw prices penetrate
resistance, closing 3/4/99
at $57.94. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Mar 4, 1999 when the solid line crossed the dotted line to the upside.
Support: Remains at $54 3/4. Resistance: Is at $60.00.
Point & Figure: Reversed to the upside on Mar 3, 1999. A P&F upside
reversal takes place at $55 1/2. Summary: Technical indicators have turned bullish. BUY! LEVEL 3 COMMUNICATIONS
(LVLT-Nasdaq) @ $58 1/4 Stop: Use a protective stop of $55 5/8.
LEVEL 3 COMMUNICATIONS is currently trading @ $57.94 plus $2.94 on Mar 4, 1999. Price Objective:
$76 1/2. Risk/Reward: $2 5/8 VS. $18 1/4. Today's Risk Reward Ratio: 7:1
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