VULCAN MATERIALS CO
(VMC-NYSE):
Technical Viewpoint: From a low
of $28.75 on Mar 12, 2003 prices
rallied, reaching a
high of $32.30
on Mar 21, 2003. A
decline saw prices pull back, reaching a
low of
$29.90 on Apr 1, 2003.
Another rally saw prices penetrate
resistance, closing 4/30/03
at $34.97. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Apr 8, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $33.38. Resistance: Is at $35.50.
Point & Figure: Reversed to the upside on Apr 30, 2003. A P&F upside
reversal takes place at $33.50. Summary: Technical indicators have turned bullish. BUY! VULCAN MATERIALS CO
(VMC-NYSE) @ $35.38 Stop: Use a protective stop of $33.38.
VULCAN MATERIALS CO is currently trading @ $34.97 plus $1.87 on Apr 30, 2003. Price Objective:
$47.00. Risk/Reward: $2.00 VS. $11.63. Today's Risk Reward Ratio: 6:1
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