STORAGE TECHNOLOGY
(STK-NYSE):
Technical Viewpoint: From a low
of $16.80 on Nov 11, 2002 prices
rallied, reaching a
high of $23.10
on Nov 25, 2002. A
decline saw prices pull back, reaching a
low of
$19.60 on Dec 4, 2002.
Another rally saw prices penetrate
resistance, closing 1/3/02
at $23.54. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jan 4, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $21.50. Resistance: Is at $24.56.
Point & Figure: Reversed to the upside on Jan 2, 2003. A P&F upside
reversal takes place at $22.50. Summary: Technical indicators have turned bullish. BUY! STORAGE TECHNOLOGY
(STK-NYSE) @ $24.13 Stop: Use a protective stop of $22.13.
STORAGE TECHNOLOGY is currently trading @ $23.54 plus $1.17 on Jan 3, 2003. Price Objective:
$34.00. Risk/Reward: $2.00 VS. $9.88. Today's Risk Reward Ratio: 5:1
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