BUY! BPZ RESOURCES INC (BZP) NYSE

  Report No. 2276    Analysis by: Harry Aloof     MAY 12, 2008

BPZ RESOURCES INC (BZP-NYSE): Technical Viewpoint: From a low of $17.20 on Apr 14, 2008 prices rallied, reaching a high of $20.82 on Apr 23, 2008. A decline saw prices pull back, reaching a low of $17.35 on May 1, 2008. Another rally saw prices penetrate resistance, closing 5/9/08 at $23.67. Technicals: MACD Index (MACD): A Buy Alert! was given on May 2, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $17.50. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on May 2, 2008. A P&F upside reversal takes place at $22.00. Summary: Technical indicators have turned bullish. BUY! BPZ RESOURCES INC (BZP-NYSE) @ $24.13 Stop: Use a protective stop of $22.13. BPZ RESOURCES INC is currently trading @ $23.67 plus $1.77 on May 9, 2008. Price Objective: $32.50. Risk/Reward: $2.00 VS. $8.38. Today's Risk Reward Ratio: 4:1

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

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Price Objective:
$32.50 Risk/Reward:
$2.00 VS. $8.38 Risk/Reward Ratio:
4:1
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