Thierry Martin
02-12-2008, 05:13 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)
PETROLEUM DEVELOPMENT CP (PETD-Nasdaq): Technical Viewpoint: From a low of $47.96 on Nov 27, 2007 prices rallied, reaching a high of $61.91 on Dec 26, 2007. A decline saw prices pull back, reaching a low of $50.75 on Jan 23, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $67.92. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 4, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $59.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 8, 2008. A P&F downside reversal takes place at $65.00. Summary: Technical indicators have turned bullish. BUY! PETROLEUM DEVELOPMENT CP (PETD-Nasdaq) @ $68.25 Stop: Use a protective stop of $65.75. PETROLEUM DEVELOPMENT CP is currently trading @ $67.92 plus $5.26 on Feb 8, 2008.
Price Objective: $79.50
Risk/Reward: $2.50 VS. $11.25
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2251-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)
PETROLEUM DEVELOPMENT CP (PETD-Nasdaq): Technical Viewpoint: From a low of $47.96 on Nov 27, 2007 prices rallied, reaching a high of $61.91 on Dec 26, 2007. A decline saw prices pull back, reaching a low of $50.75 on Jan 23, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $67.92. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 4, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $59.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 8, 2008. A P&F downside reversal takes place at $65.00. Summary: Technical indicators have turned bullish. BUY! PETROLEUM DEVELOPMENT CP (PETD-Nasdaq) @ $68.25 Stop: Use a protective stop of $65.75. PETROLEUM DEVELOPMENT CP is currently trading @ $67.92 plus $5.26 on Feb 8, 2008.
Price Objective: $79.50
Risk/Reward: $2.50 VS. $11.25
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2251-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)