FOUNDRY NETWORKS INC
(FDRY-Nasdaq):
Technical Viewpoint: From a low
of $57 1/8 on Sep 22, 2000 prices
rallied, reaching a
high of $71 3/4
on Sep 27, 2000. A
decline saw prices pull back, reaching a
low of
$55 3/4 on Oct 4, 2000.
Another rally saw prices penetrate
resistance, closing 10/18/00
at $83.00. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Sep 26, 2000 when the solid line crossed the dotted line to the upside.
Support: Remains at $70.00. Resistance: Is at $93.00.
Point & Figure: Reversed to the upside on Oct 19, 2000. A P&F upside
reversal takes place at $72.00. Summary: Technical indicators have turned bullish. BUY! FOUNDRY NETWORKS INC
(FDRY-Nasdaq) @ $83 3/8 Stop: Use a protective stop of $80 1/2.
FOUNDRY NETWORKS INC is currently trading @ $83.00 plus $16 1/2 on Oct 19, 2000. Price Objective:
$111.00. Risk/Reward: $2 7/8 VS. $27 5/8. Today's Risk Reward Ratio: 10:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$111.00
Risk/Reward:
$2 7/8 VS. $27 5/8
Risk/Reward Ratio:
10:1
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