BUY! OIL SVC HLDRS TR (OIH) Amex

  Report No. 1757    Analysis by: Harry Aloof     MAY 9, 2003

OIL SVC HLDRS TR (OIH-Amex): Technical Viewpoint: From a low of $52.76 on Mar 12, 2003 prices rallied, reaching a high of $57.42 on Mar 20, 2003. A decline saw prices pull back, reaching a low of $53.15 on Apr 17, 2003. Another rally saw prices penetrate resistance, closing 5/8/03 at $59.08. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Apr 22, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $57.50. Resistance: Is at $60.93. Point & Figure: Reversed to the upside on May 7, 2003. A P&F upside reversal takes place at $57.50. Summary: Technical indicators have turned bullish. BUY! OIL SVC HLDRS TR (OIH-Amex) @ $59.50 Stop: Use a protective stop of $57.13. OIL SVC HLDRS TR is currently trading @ $59.08 plus $0.56 on May 8, 2003. Price Objective: $76.00. Risk/Reward: $2.38 VS. $16.50. Today's Risk Reward Ratio: 7:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$76.00 Risk/Reward:
$2.38 VS. $16.50 Risk/Reward Ratio:
7:1
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