Harry Aloof
08-04-2008, 05:38 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)
LUMINEX CORPORATION (LMNX-Nasdaq): Technical Viewpoint: From a low of $18.00 on May 9, 2008 prices rallied, reaching a high of $23.09 on Jun 5, 2008. A decline saw prices pull back, reaching a low of $19.41 on Jul 7, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $23.83. Technicals: MACD Index (MACD): A Buy Alert! was given on Jul 11, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $19.50. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jul 24, 2008. A P&F downside reversal takes place at $21.00. Summary: Technical indicators have turned bullish. BUY! LUMINEX CORPORATION (LMNX-Nasdaq) @ $23.88 Stop: Use a protective stop of $21.88. LUMINEX CORPORATION is currently trading @ $23.83 plus $1.83 on Aug 1, 2008.
Price Objective: $32.50
Risk/Reward: $2.00 VS. $8.62
Today's Risk Reward Ratio: 4:1
http://18004wallstreet.com/images/charts/Chart2312-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)
LUMINEX CORPORATION (LMNX-Nasdaq): Technical Viewpoint: From a low of $18.00 on May 9, 2008 prices rallied, reaching a high of $23.09 on Jun 5, 2008. A decline saw prices pull back, reaching a low of $19.41 on Jul 7, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $23.83. Technicals: MACD Index (MACD): A Buy Alert! was given on Jul 11, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $19.50. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jul 24, 2008. A P&F downside reversal takes place at $21.00. Summary: Technical indicators have turned bullish. BUY! LUMINEX CORPORATION (LMNX-Nasdaq) @ $23.88 Stop: Use a protective stop of $21.88. LUMINEX CORPORATION is currently trading @ $23.83 plus $1.83 on Aug 1, 2008.
Price Objective: $32.50
Risk/Reward: $2.00 VS. $8.62
Today's Risk Reward Ratio: 4:1
http://18004wallstreet.com/images/charts/Chart2312-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)