Harry Aloof
05-06-2008, 03:29 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)
GERDAU SA ADS (GGB-NYSE): Technical Viewpoint: From a low of $34.79 on Apr 4, 2008 prices rallied, reaching a high of $39.07 on Apr 23, 2008. A decline saw prices pull back, reaching a low of $36.24 on Apr 29, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $41.79. Technicals: MACD Index (MACD): A Buy Alert! was given on May 2, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $37.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 2, 2008. A P&F downside reversal takes place at $39.00. Summary: Technical indicators have turned bullish. BUY! GERDAU SA ADS (GGB-NYSE) @ $42.50 Stop: Use a protective stop of $40.50. GERDAU SA ADS is currently trading @ $41.79 plus $2.11 on May 2, 2008.
Price Objective: $53.50
Risk/Reward: $2.00 VS. $11.00
Today's Risk Reward Ratio: 6:1
http://18004wallstreet.com/images/charts/Chart2279-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)
GERDAU SA ADS (GGB-NYSE): Technical Viewpoint: From a low of $34.79 on Apr 4, 2008 prices rallied, reaching a high of $39.07 on Apr 23, 2008. A decline saw prices pull back, reaching a low of $36.24 on Apr 29, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $41.79. Technicals: MACD Index (MACD): A Buy Alert! was given on May 2, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $37.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 2, 2008. A P&F downside reversal takes place at $39.00. Summary: Technical indicators have turned bullish. BUY! GERDAU SA ADS (GGB-NYSE) @ $42.50 Stop: Use a protective stop of $40.50. GERDAU SA ADS is currently trading @ $41.79 plus $2.11 on May 2, 2008.
Price Objective: $53.50
Risk/Reward: $2.00 VS. $11.00
Today's Risk Reward Ratio: 6:1
http://18004wallstreet.com/images/charts/Chart2279-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)