COMTECH TELECOMMUN
(CMTL-Nasdaq):
Technical Viewpoint: From a low
of $27.85 on Nov 20, 2003 prices
rallied, reaching a
high of $35.00
on Dec 1, 2003. A
decline saw prices pull back, reaching a
low of
$26.67 on Dec 8, 2003.
Another rally saw prices penetrate
resistance, closing 1/12/04
at $37.56. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jan 7, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $32.25. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jan 12, 2004. A P&F upside
reversal takes place at $35.25. Summary: Technical indicators have turned bullish. BUY! COMTECH TELECOMMUN
(CMTL-Nasdaq) @ $37.88 Stop: Use a protective stop of $35.88.
COMTECH TELECOMMUN is currently trading @ $37.56 plus $4.39 on Jan 12, 2004. Price Objective:
$50.00. Risk/Reward: $2.00 VS. $12.13. Today's Risk Reward Ratio: 6:1
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