Harry Aloof
03-28-2008, 12:16 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)
WAL-MART STORES INC (WMT-NYSE): Technical Viewpoint: From a low of $47.84 on Feb 7, 2008 prices rallied, reaching a high of $51.57 on Feb 27, 2008. A decline saw prices pull back, reaching a low of $48.64 on Mar 10, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $53.23. Technicals: Stochastic Oscillator (STOC): A Buy Alert! was given on Mar 22, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $48.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 26, 2008. A P&F downside reversal takes place at $. Summary: Technical indicators have turned bullish. BUY! WAL-MART STORES INC (WMT-NYSE) @ $53.50 Stop: Use a protective stop of $51.13. WAL-MART STORES INC is currently trading @ $53.23 plus $2.45 on Mar 20, 2008.
Price Objective: $65.00
Risk/Reward: $2.37 VS. $11.50
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2264-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)
WAL-MART STORES INC (WMT-NYSE): Technical Viewpoint: From a low of $47.84 on Feb 7, 2008 prices rallied, reaching a high of $51.57 on Feb 27, 2008. A decline saw prices pull back, reaching a low of $48.64 on Mar 10, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $53.23. Technicals: Stochastic Oscillator (STOC): A Buy Alert! was given on Mar 22, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $48.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 26, 2008. A P&F downside reversal takes place at $. Summary: Technical indicators have turned bullish. BUY! WAL-MART STORES INC (WMT-NYSE) @ $53.50 Stop: Use a protective stop of $51.13. WAL-MART STORES INC is currently trading @ $53.23 plus $2.45 on Mar 20, 2008.
Price Objective: $65.00
Risk/Reward: $2.37 VS. $11.50
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2264-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)