SAFENET INC
(SFNT-Nasdaq):
Technical Viewpoint: From a low
of $30.38 on Dec 31, 2003 prices
rallied, reaching a
high of $36.75
on Jan 9, 2004. A
decline saw prices pull back, reaching a
low of
$33.44 on Jan 23, 2004.
Another rally saw prices penetrate
resistance, closing 1/27/04
at $37.80. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jan 27, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $34.00. Resistance: Is at $42.51.
Point & Figure: Reversed to the upside on Jan 27, 2004. A P&F upside
reversal takes place at $36.50. Summary: Technical indicators have turned bullish. BUY! SAFENET INC
(SFNT-Nasdaq) @ $38.50 Stop: Use a protective stop of $36.50.
SAFENET INC is currently trading @ $37.80 plus $2.63 on Jan 27, 2004. Price Objective:
$49.50. Risk/Reward: $2.00 VS. $11.00. Today's Risk Reward Ratio: 5:1
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