Harry Aloof
02-21-2007, 09:44 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)
MOHAWK INDUSTRIES (MHK-NYSE): Technical Viewpoint: From a low of $77.90 on Jan 31, 2007 prices rallied, reaching a high of $87.76 on Feb 2, 2007. A decline saw prices pull back, reaching a low of $82.40 on Feb 9, 2007. Another rally saw prices penetrate resistance line "A", closing 2/16/07 at $93.89. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 16, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $87.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 16, 2007. A P&F downside reversal takes place at $91.00. Summary: Technical indicators have turned bullish. BUY! MOHAWK INDUSTRIES (MHK-NYSE) @ $94.38 Stop: Use a protective stop of $91.63. MOHAWK INDUSTRIES is currently trading @ $93.89 plus $9.26 on Feb 16, 2007.
Price Objective: $125.00.
Risk/Reward: $2.75 VS. $30.62.
Today's Risk Reward Ratio: 11.1
http://18004wallstreet.com/images/charts/Chart2121-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)
MOHAWK INDUSTRIES (MHK-NYSE): Technical Viewpoint: From a low of $77.90 on Jan 31, 2007 prices rallied, reaching a high of $87.76 on Feb 2, 2007. A decline saw prices pull back, reaching a low of $82.40 on Feb 9, 2007. Another rally saw prices penetrate resistance line "A", closing 2/16/07 at $93.89. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 16, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $87.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 16, 2007. A P&F downside reversal takes place at $91.00. Summary: Technical indicators have turned bullish. BUY! MOHAWK INDUSTRIES (MHK-NYSE) @ $94.38 Stop: Use a protective stop of $91.63. MOHAWK INDUSTRIES is currently trading @ $93.89 plus $9.26 on Feb 16, 2007.
Price Objective: $125.00.
Risk/Reward: $2.75 VS. $30.62.
Today's Risk Reward Ratio: 11.1
http://18004wallstreet.com/images/charts/Chart2121-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)