Comtech Communications (CMTL) - July 28, 2008

Harry Aloof · 08-04-2008, 05:34 PM

From Wall Street Trader's Column

COMTECH COMMUNICATIONS (CMTL-Nasdaq): Technical Viewpoint: From a low of $42.74 on May 23, 2008 prices rallied, reaching a high of $50.44 on Jun 24, 2008. A decline saw prices pull back, reaching a low of $46.74 on Jul 3, 2008. Another rally saw prices penetrate resistance, closing 7/25/08 at $51.16. Technicals: MACD Index (MACD): A Buy Alert! was given on Jul 25, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $47.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jul 16, 2008. A P&F upside reversal takes place at $48.00. Summary: Technical indicators have turned bullish. BUY! COMTECH COMMUNICATIONS (CMTL-Nasdaq) @ $51.25 Stop: Use a protective stop of $48.75. COMTECH COMMUNICATIONS is currently trading @ $51.16 plus $1.88 on Jul 25, 2008.

Price Objective: $69.50
Risk/Reward: $2.50 VS. $18.25
Today's Risk Reward Ratio: 7:1

08-04-2008, 05:34 PM	#1
Harry Aloof contributing website Join Date: Oct 2006 Posts: 154	Comtech Communications (CMTL) - July 28, 2008 From Wall Street Trader's Column COMTECH COMMUNICATIONS (CMTL-Nasdaq): Technical Viewpoint: From a low of $42.74 on May 23, 2008 prices rallied, reaching a high of $50.44 on Jun 24, 2008. A decline saw prices pull back, reaching a low of $46.74 on Jul 3, 2008. Another rally saw prices penetrate resistance, closing 7/25/08 at $51.16. Technicals: MACD Index (MACD): A Buy Alert! was given on Jul 25, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $47.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jul 16, 2008. A P&F upside reversal takes place at $48.00. Summary: Technical indicators have turned bullish. BUY! COMTECH COMMUNICATIONS (CMTL-Nasdaq) @ $51.25 Stop: Use a protective stop of $48.75. COMTECH COMMUNICATIONS is currently trading @ $51.16 plus $1.88 on Jul 25, 2008. Price Objective: $69.50 Risk/Reward: $2.50 VS. $18.25 Today's Risk Reward Ratio: 7:1

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