Harry Aloof
03-08-2007, 01:11 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)
SUPERIOR ENERGY SVCS (SPN-NYSE): Technical Viewpoint: From a low of $28.20 on Jan 18, 2007 prices rallied, reaching a high of $31.12 on Feb 5, 2007. A decline saw prices pull back, reaching a low of $28.74 on Feb 20, 2007. Another rally saw prices penetrate resistance line "A", closing 3/3/07 at $32.72. Technicals: MACD Index (MACD): A Buy Alert! was given on Jan 30, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $31.43. Resistance: Is at $32.99. Point & Figure: Reversed to the upside on Mar 2, 2007. A P&F downside reversal takes place at $29.00. Summary: Technical indicators have turned bullish. BUY! SUPERIOR ENERGY SVCS (SPN-NYSE) @ $33.13 Stop: Use a protective stop of $31.13. SUPERIOR ENERGY SVCS is currently trading @ $32.72 plus $1.47 on Mar 2, 2007.
Price Objective: $35.50.
Risk/Reward: $2.00 VS. $9.37.
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2125-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)
SUPERIOR ENERGY SVCS (SPN-NYSE): Technical Viewpoint: From a low of $28.20 on Jan 18, 2007 prices rallied, reaching a high of $31.12 on Feb 5, 2007. A decline saw prices pull back, reaching a low of $28.74 on Feb 20, 2007. Another rally saw prices penetrate resistance line "A", closing 3/3/07 at $32.72. Technicals: MACD Index (MACD): A Buy Alert! was given on Jan 30, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $31.43. Resistance: Is at $32.99. Point & Figure: Reversed to the upside on Mar 2, 2007. A P&F downside reversal takes place at $29.00. Summary: Technical indicators have turned bullish. BUY! SUPERIOR ENERGY SVCS (SPN-NYSE) @ $33.13 Stop: Use a protective stop of $31.13. SUPERIOR ENERGY SVCS is currently trading @ $32.72 plus $1.47 on Mar 2, 2007.
Price Objective: $35.50.
Risk/Reward: $2.00 VS. $9.37.
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2125-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)