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Daily 8 Stock Report * No. 2452-TA * Wednesday May 10, 2006
HedgeAction Monthly Feature Stock Report™
Accredited Home Lenders (LEND-Nasdaq):
Technical Viewpoint: From a low of $46.56 on Mar 13, 2006 prices rallied, reaching a high of $54.13 on Mar 24, 2006. A decline saw prices pull back, reaching a low of $49.10 on Apr 13, 2006. Another rally saw prices penetrate resistance, closing 4/28/06 at $57.79. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Apr 21, 2006 when the Histogram crossed the "0" line to the upside. Support: Remains at $54.00. Resistance: None at current levels. Point & Figure: Reversed to the upside on Apr 28, 2006. A P&F upside reversal takes place at $54.00. Summary: Technical indicators have turned bullish. BUY! Accredited Home Lenders (LEND-Nasdaq) @ $58.13 Stop: Use a protective stop of $55.63. Accredited Home Lenders is currently trading @ $57.79 plus $1.59 on Apr 28, 2006. Price Objective: $68.00. Risk/Reward: $2.50 VS. $9.87. Today's Risk Reward Ratio: 4:1
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