GRACO INC
(GGG-NYSE):
Technical Viewpoint: From a low
of $28.35 on Aug 11, 2003 prices
rallied, reaching a
high of $32.00
on Apr 24, 2003. A
decline saw prices pull back, reaching a
low of
$29.75 on Jun 10, 2003.
Another rally saw prices penetrate
resistance, closing 7/21/03
at $35.57. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jun 13, 2003 when the solid line crossed the dotted line to the upside.
Support: Remains at $31.75. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jul 21, 2003. A P&F upside
reversal takes place at $34.75. Summary: Technical indicators have turned bullish. BUY! GRACO INC
(GGG-NYSE) @ $35.75 Stop: Use a protective stop of $33.75.
GRACO INC is currently trading @ $35.57 plus $1.50 on Jul 21, 2003. Price Objective:
$44.00. Risk/Reward: $2.00 VS. $8.25. Today's Risk Reward Ratio: 4:1
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