SCHOLASTIC CORPORATION
(SCHL-Nasdaq):
Technical Viewpoint: From a low
of $27.72 on Aug 27, 2003 prices
rallied, reaching a
high of $32.16
on Sep 24, 2003. A
decline saw prices pull back, reaching a
low of
$28.00 on Oct 8, 2003.
Another rally saw prices penetrate
resistance, closing 11/7/03
at $35.12. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 16, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $31.50. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Nov 7, 2003. A P&F upside
reversal takes place at $33.50. Summary: Technical indicators have turned bullish. BUY! SCHOLASTIC CORPORATION
(SCHL-Nasdaq) @ $35.25 Stop: Use a protective stop of $33.25.
SCHOLASTIC CORPORATION is currently trading @ $35.12 plus $3.95 on Nov 7, 2003. Price Objective:
$50.00. Risk/Reward: $2.00 VS. $14.75. Today's Risk Reward Ratio: 7:1
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