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contributing website
![]() Join Date: Oct 2006
Posts: 154
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From Wall Street Trader's Column
ATLAS AMERICA INC (ATLS-Nasdaq): Technical Viewpoint: From a low of $48.35 on Feb 7, 2008 prices rallied, reaching a high of $63.61 on Feb 28, 2008. A decline saw prices pull back, reaching a low of $55.97 on Mar 20, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $67.01. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 4, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $63.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Mar 24, 2008. A P&F downside reversal takes place at $65.00. Summary: Technical indicators have turned bullish. BUY! ATLAS AMERICA INC (ATLS-Nasdaq) @ $67.50 Stop: Use a protective stop of $65.13. ATLAS AMERICA INC is currently trading @ $67.01 plus $3.35 on Apr 11, 2008. Price Objective: $79.50 Risk/Reward: $2.37 VS. $12.00 Today's Risk Reward Ratio: 5:1
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| harry aloof, wall street column, wall street traders, weekly stock pick |
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