Continental Resources (CLR) - April 27, 2008

Harry Aloof · 05-02-2008, 12:52 AM

From Wall Street Trader's Column

CONTINENTAL RESOURCES INC (CLR-NYSE): Technical Viewpoint: From a low of $24.44 on Mar 24, 2008 prices rallied, reaching a high of $44.58 on Apr 16, 2008. A decline saw prices pull back, reaching a low of $38.61 on Apr 17, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $45.05. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 1, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $41.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 18, 2008. A P&F downside reversal takes place at $42.00. Summary: Technical indicators have turned bullish. BUY! CONTINENTAL RESOURCES INC (CLR-NYSE) @ $45.38 Stop: Use a protective stop of $43.38. CONTINENTAL RESOURCES INC is currently trading @ $45.05 plus $2.96 on Apr 25, 2008.

Price Objective: $57.50
Risk/Reward: $2.00 VS. $12.12
Today's Risk Reward Ratio: 6:1

05-02-2008, 12:52 AM	#1
Harry Aloof contributing website Join Date: Oct 2006 Posts: 154	Continental Resources (CLR) - April 27, 2008 From Wall Street Trader's Column CONTINENTAL RESOURCES INC (CLR-NYSE): Technical Viewpoint: From a low of $24.44 on Mar 24, 2008 prices rallied, reaching a high of $44.58 on Apr 16, 2008. A decline saw prices pull back, reaching a low of $38.61 on Apr 17, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $45.05. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 1, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $41.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Apr 18, 2008. A P&F downside reversal takes place at $42.00. Summary: Technical indicators have turned bullish. BUY! CONTINENTAL RESOURCES INC (CLR-NYSE) @ $45.38 Stop: Use a protective stop of $43.38. CONTINENTAL RESOURCES INC is currently trading @ $45.05 plus $2.96 on Apr 25, 2008. Price Objective: $57.50 Risk/Reward: $2.00 VS. $12.12 Today's Risk Reward Ratio: 6:1

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