WATERS CORP (WAT-NYSE): Technical Viewpoint: From a low of $42.14 on May 10, 2004 prices rallied, reaching a high of $47.00 on Jun 2, 2004. A decline saw prices pull back, reaching a low of $43.78 on Jun 17, 2004. Another rally saw prices penetrate resistance, closing 7/7/04 at $47.50. Technicals: MACD Index (MACD): A Buy Alert! was given on Jun 29, 2004 when the solid line crossed the dotted line to the upside. Support: Remains at $45.50. Resistance: Is at $48.34. Point & Figure: Reversed to the upside on Jul 1, 2004. A P&F upside reversal takes place at $46.00. Summary: Technical indicators have turned bullish. BUY! WATERS CORP (WAT-NYSE) @ $47.63 Stop: Use a protective stop of $45.63. WATERS CORP is currently trading @ $47.50 plus $1.48 on Jul 7, 2004. Price Objective: $59.50. Risk/Reward: $2.00 VS. $11.88. Today's Risk Reward Ratio: 6:1