OSI Pharmaceuticals (OSIP) - October 29, 2007

[Harry Aloof]

From Wall Street Trader's Column

OSI PHARMACEUTICALS (OSIP-Nasdaq): Technical Viewpoint: From a low of $28.68 on Aug 10, 2007 prices rallied, reaching a high of $35.89 on Sep 6, 2007. A decline saw prices pull back, reaching a low of $33.27 on Oct 8, 2007. Another rally saw prices penetrate resistance line "A", closing yesterday at $41.71. Technicals: MACD Index (MACD): A Buy Alert! was given on Oct 15, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $36.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Aug 14, 2007. A P&F downside reversal takes place at $39.00. Summary: Technical indicators have turned bullish. BUY! OSI PHARMACEUTICALS (OSIP-Nasdaq) @ $42.25 Stop: Use a protective stop of $40.25. OSI PHARMACEUTICALS is currently trading @ $41.71 plus $5.05 on Oct 26, 2007.

Price Objective: $52.50
Risk/Reward: $2.00 VS. $10.25
Today's Risk Reward Ratio: 5:1