Harry Aloof
05-14-2007, 09:39 PM
From Wall Street Trader's Column (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
ENCANA CORP (ECA-NYSE): Technical Viewpoint: From a low of $45.87 on Mar 16, 2007 prices rallied, reaching a high of $54.78 on Apr 18, 2007. A decline saw prices pull back, reaching a low of $51.79 on May 1, 2007. Another rally saw prices penetrate resistance line "A", closing yesterday at $59.15. Technicals: MACD Index (MACD): A Buy Alert! was given on May 7, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $56.25. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Mar 22, 2007. A P&F downside reversal takes place at $56.00. Summary: Technical indicators have turned bullish. BUY! ENCANA CORP (ECA-NYSE) @ $59.38 Stop: Use a protective stop of $56.88. ENCANA CORP is currently trading @ $59.15 plus $2.84 on May 11, 2007.
Price Objective: $72.50.
Risk/Reward: $2.50 VS. $13.12.
Today's Risk Reward Ratio: 5;1
http://18004wallstreet.com/images/charts/Chart2147-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
ENCANA CORP (ECA-NYSE): Technical Viewpoint: From a low of $45.87 on Mar 16, 2007 prices rallied, reaching a high of $54.78 on Apr 18, 2007. A decline saw prices pull back, reaching a low of $51.79 on May 1, 2007. Another rally saw prices penetrate resistance line "A", closing yesterday at $59.15. Technicals: MACD Index (MACD): A Buy Alert! was given on May 7, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $56.25. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Mar 22, 2007. A P&F downside reversal takes place at $56.00. Summary: Technical indicators have turned bullish. BUY! ENCANA CORP (ECA-NYSE) @ $59.38 Stop: Use a protective stop of $56.88. ENCANA CORP is currently trading @ $59.15 plus $2.84 on May 11, 2007.
Price Objective: $72.50.
Risk/Reward: $2.50 VS. $13.12.
Today's Risk Reward Ratio: 5;1
http://18004wallstreet.com/images/charts/Chart2147-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)