Harry Aloof
07-14-2008, 11:11 AM
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)
HERCULES OFFSHORE INC (HERO-Nasdaq): Technical Viewpoint: From a low of $32.39 on Jun 10, 2008 prices rallied, reaching a high of $36.90 on Jun 19, 2008. A decline saw prices pull back, reaching a low of $34.41 on Jun 24, 2008. Another rally saw prices penetrate resistance, closing 6/27/08 at $38.31. Technicals: MACD Index (MACD): A Buy Alert! was given on Jun 18, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $34.41. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jun 16, 2008. A P&F upside reversal takes place at $35.00. Summary: Technical indicators have turned bullish. BUY! HERCULES OFFSHORE INC (HERO-Nasdaq) @ $38.50 Stop: Use a protective stop of $36.50. HERCULES OFFSHORE INC is currently trading @ $38.31 plus $2.06 on Jun 27, 2008.
Price Objective: $48.00
Risk/Reward: $2.00 VS. $9.50
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2299-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)
HERCULES OFFSHORE INC (HERO-Nasdaq): Technical Viewpoint: From a low of $32.39 on Jun 10, 2008 prices rallied, reaching a high of $36.90 on Jun 19, 2008. A decline saw prices pull back, reaching a low of $34.41 on Jun 24, 2008. Another rally saw prices penetrate resistance, closing 6/27/08 at $38.31. Technicals: MACD Index (MACD): A Buy Alert! was given on Jun 18, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $34.41. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jun 16, 2008. A P&F upside reversal takes place at $35.00. Summary: Technical indicators have turned bullish. BUY! HERCULES OFFSHORE INC (HERO-Nasdaq) @ $38.50 Stop: Use a protective stop of $36.50. HERCULES OFFSHORE INC is currently trading @ $38.31 plus $2.06 on Jun 27, 2008.
Price Objective: $48.00
Risk/Reward: $2.00 VS. $9.50
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2299-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)