CABLE-RAINBOW
(RMG-NYSE):
Technical Viewpoint: From a low
of $22.50 on Dec 12, 2002 prices
rallied, reaching a
high of $27.50
on Jan 9, 2002. A
decline saw prices pull back, reaching a
low of
$25.38 on Jan 14, 2002.
Another rally saw prices penetrate
resistance, closing 1/18/02
at $27.50. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Dec 6, 2002 when the Histogram crossed the "0" line to the upside.
Support: Remains at $26.00. Resistance: Is at $28.00.
Point & Figure: Reversed to the upside on Jan 18, 2002. A P&F upside
reversal takes place at $26.00. Summary: Technical indicators have turned bullish. BUY! CABLE-RAINBOW
(RMG-NYSE) @ $27.88 Stop: Use a protective stop of $25.88.
CABLE-RAINBOW is currently trading @ $27.50 plus $1.24 on Jan 18, 2002. Price Objective:
$36.00. Risk/Reward: $2.00 VS. $8.13. Today's Risk Reward Ratio: 4:1
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