MRV COMMUNICATIONS
(MRVC-Nasdaq):
Technical Viewpoint: From a low
of $24.56 on Nov 12, 1999 prices
rallied, reaching a
high of $34.69
on Nov 17, 1999. A
decline saw prices pull back, reaching a
low of
$28 7/8 on Nov 23, 1999.
Another rally saw prices penetrate
resistance, closing 12/1/99
at $36 3/8. Technicals: MACD Index (MACD): A Buy Alert!
was given on Nov 9, 1999 when the solid line crossed the dotted line to the upside.
Support: Remains at $32.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Dec 1, 1999. A P&F upside
reversal takes place at $33 3/4. Summary: Technical indicators have turned bullish. BUY! MRV COMMUNICATIONS
(MRVC-Nasdaq) @ $36 1/2 Stop: Use a protective stop of $33 7/8.
MRV COMMUNICATIONS is currently trading @ $36 3/8 plus $4 3/8 on Dec 1, 1999. Price Objective:
$45.00. Risk/Reward: $2 5/8 VS. $8 1/2. Today's Risk Reward Ratio: 3:1
|
Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$45.00
Risk/Reward:
$2 5/8 VS. $8 1/2
Risk/Reward Ratio:
3:1
|