|
MELLON FINANCIAL CORP
(MEL-NYSE):
Technical Viewpoint: From a low
of $33.60 on Oct 31, 2001 prices
rallied, reaching a
high of $38.09
on Nov 11, 2001. A
decline saw prices pull back, reaching a
low of
$36.01 on Nov 16, 2001.
Another rally saw prices penetrate
resistance, closing 11/23/01
at $38.70. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Nov 12, 2001 when the Histogram crossed the "0" line to the upside.
Support: Remains at $36.75. Resistance: Is at $40.26.
Point & Figure: Reversed to the upside on Nov 13, 2001. A P&F upside
reversal takes place at $37.00. Summary: Technical indicators have turned bullish. BUY! Mellon Financial Corp
(MEL-NYSE) @ $39.13 Stop: Use a protective stop of $36.63.
Mellon Financial Corp is currently trading @ $38.70 plus $0.90 on Nov 23, 2001. Price Objective:
$50.00. Risk/Reward: $2.50 VS. $10.88. Today's Risk Reward Ratio: 4:1
|
Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$50.00
Risk/Reward:
$2.50 VS. $10.88
Risk/Reward Ratio:
4:1
|
