Harry Aloof
05-01-2008, 11:52 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)
CONTINENTAL RESOURCES INC (CLR-NYSE): Technical Viewpoint: From a low of $24.44 on Mar 24, 2008 prices rallied, reaching a high of $44.58 on Apr 16, 2008. A decline saw prices pull back, reaching a low of $38.61 on Apr 17, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $45.05. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 1, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $41.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 18, 2008. A P&F downside reversal takes place at $42.00. Summary: Technical indicators have turned bullish. BUY! CONTINENTAL RESOURCES INC (CLR-NYSE) @ $45.38 Stop: Use a protective stop of $43.38. CONTINENTAL RESOURCES INC is currently trading @ $45.05 plus $2.96 on Apr 25, 2008.
Price Objective: $57.50
Risk/Reward: $2.00 VS. $12.12
Today's Risk Reward Ratio: 6:1
http://18004wallstreet.com/images/charts/Chart2275-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)
CONTINENTAL RESOURCES INC (CLR-NYSE): Technical Viewpoint: From a low of $24.44 on Mar 24, 2008 prices rallied, reaching a high of $44.58 on Apr 16, 2008. A decline saw prices pull back, reaching a low of $38.61 on Apr 17, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $45.05. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 1, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $41.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 18, 2008. A P&F downside reversal takes place at $42.00. Summary: Technical indicators have turned bullish. BUY! CONTINENTAL RESOURCES INC (CLR-NYSE) @ $45.38 Stop: Use a protective stop of $43.38. CONTINENTAL RESOURCES INC is currently trading @ $45.05 plus $2.96 on Apr 25, 2008.
Price Objective: $57.50
Risk/Reward: $2.00 VS. $12.12
Today's Risk Reward Ratio: 6:1
http://18004wallstreet.com/images/charts/Chart2275-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)