Luminex (LMNX) - August 3, 2008

[Harry Aloof]

From Wall Street Trader's Column

LUMINEX CORPORATION (LMNX-Nasdaq): Technical Viewpoint: From a low of $18.00 on May 9, 2008 prices rallied, reaching a high of $23.09 on Jun 5, 2008. A decline saw prices pull back, reaching a low of $19.41 on Jul 7, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $23.83. Technicals: MACD Index (MACD): A Buy Alert! was given on Jul 11, 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 Jul 24, 2008. A P&F downside reversal takes place at $21.00. Summary: Technical indicators have turned bullish. BUY! LUMINEX CORPORATION (LMNX-Nasdaq) @ $23.88 Stop: Use a protective stop of $21.88. LUMINEX CORPORATION is currently trading @ $23.83 plus $1.83 on Aug 1, 2008.

Price Objective: $32.50
Risk/Reward: $2.00 VS. $8.62
Today's Risk Reward Ratio: 4:1