Precision Drilling (PDS) - April 7, 2008

[Harry Aloof]

From Wall Street Trader's Column

PRECISION DRILLING CORP (PDS-NYSE): Technical Viewpoint: From a low of $15.39 on Jan 23, 2008 prices rallied, reaching a high of $22.91 on Feb 29, 2008. A decline saw prices pull back, reaching a low of $19.46 on Mar 20, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $23.93. Technicals: MACD Index (MACD): A Buy Alert! was given on Mar 26, 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 Mar 26, 2008. A P&F downside reversal takes place at $21.00. Summary: Technical indicators have turned bullish. BUY! PRECISION DRILLING CORP (PDS-NYSE) @ $24.13 Stop: Use a protective stop of $22.13. PRECISION DRILLING CORP is currently trading @ $23.93 plus $1.00 on Apr 4, 2008.

Price Objective: $30.00
Risk/Reward: $2.00 VS. $5.87
Today's Risk Reward Ratio: 3:1