GENETECH INC
(DNA-NYSE):
Technical Viewpoint: From a low
of $32.00 on Oct 26, 2002 prices
rallied, reaching a
high of $35.95
on Dec 23, 2002. A
decline saw prices pull back, reaching a
low of
$32.25 on Dec 30, 2002.
Another rally saw prices penetrate
resistance, closing 1/16/03
at $39.21. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jan 7, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $35.25. Resistance: Is at $39.50.
Point & Figure: Reversed to the upside on Jan 16, 2003. A P&F upside
reversal takes place at $37.50. Summary: Technical indicators have turned bullish. BUY! GENETECH INC
(DNA-NYSE) @ $39.38 Stop: Use a protective stop of $37.38.
GENETECH INC is currently trading @ $39.21 plus $4.00 on Jan 16, 2003. Price Objective:
$50.50. Risk/Reward: $2.00 VS. $11.12. Today's Risk Reward Ratio: 5:1
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