BIOMET INC
(BMET-Nasdaq):
Technical Viewpoint: From a low
of $23.25 on Jul 11, 2002 prices
rallied, reaching a
high of $25.92
on Jul 17, 2002. A
decline saw prices pull back, reaching a
low of
$21.75 on Jul 24, 2002.
Another rally saw prices penetrate
resistance, closing 8/2/02
at $26.51. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jul 26, 2002 when the solid line crossed the dotted line to the upside.
Support: Remains at $24.75. Resistance: Is at $27.25.
Point & Figure: Reversed to the upside on Jul 29, 2002. A P&F upside
reversal takes place at $25.00. Summary: Technical indicators have turned bullish. BUY! BIOMET INC
(BMET-Nasdaq) @ $26.75 Stop: Use a protective stop of $24.75.
BIOMET INC is currently trading @ $26.51 plus $1.49 on Aug 2, 2002. Price Objective:
$35.50. Risk/Reward: $2.00 VS. $8.75. Today's Risk Reward Ratio: 4:1
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