Energy Conversion Devices (ENER) - June 2, 2008

[Harry Aloof]

From Wall Street Trader's Column

ENERGY CONVERSION DEVICES (ENER-Nasdaq): Technical Viewpoint: From a low of $34.02 on May 7, 2008 prices rallied, reaching a high of $58.69 on May 19, 2008. A decline saw prices pull back, reaching a low of $51.25 on May 22, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $63.48. Technicals: MACD Index (MACD): A Buy Alert! was given on May 30, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $. Resistance: Is at $. Point & Figure: Reversed to the upside on May 23, 2008. A P&F downside reversal takes place at $61.00. Summary: Technical indicators have turned bullish. BUY! ENERGY CONVERSN DEVICES (ENER-Nasdaq) @ $64.63 Stop: Use a protective stop of $62.13. ENERGY CONVERSN DEVICES is currently trading @ $63.48 plus $8.78 on May 30, 2008.

Price Objective: $79.50
Risk/Reward: $2.50 VS. $14.87
Today's Risk Reward Ratio: 6:1