WESTERN GAS RESOURCES
(WGR-NYSE):
Technical Viewpoint: From a low
of $26.30 on May 21, 2004 prices
rallied, reaching a
high of $33.45
on Jul 6, 2004. A
decline saw prices pull back, reaching a
low of
$31.80 on Jul 13, 2004.
Another rally saw prices penetrate
resistance, closing 7/14/04
at $34.03. Technicals: RSI Index (RSI): A Buy Alert!
was given on Jul 14, 2004 when the solid line crossed the dotted line to the upside.
Support: Remains at $31.88. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jun 25, 2004. A P&F upside
reversal takes place at $32.50. Summary: Technical indicators have turned bullish. BUY! WESTERN GAS RESOURCES
(WGR-NYSE) @ $34.13 Stop: Use a protective stop of $32.13.
WESTERN GAS RESOURCES is currently trading @ $34.03 plus $2.11 on Jul 14, 2004. Price Objective:
$46.00. Risk/Reward: $2.00 VS. $11.87. Today's Risk Reward Ratio: 6:1
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