ENCANA CORP
(ECA-NYSE):
Technical Viewpoint: From a low
of $45.87 on Mar 16, 2007 prices
rallied, reaching a
high of $54.78
on Apr 18, 2007. A
decline saw prices pull back, reaching a
low of
$51.79 on May 1, 2007.
Another rally saw prices penetrate
resistance, closing 5/11/07
at $59.15. Technicals: MACD Index (MACD): A Buy Alert!
was given on May 7, 2007 when the solid line crossed the dotted line to the upside.
Support: Remains at $56.25. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Mar 22, 2007. A P&F upside
reversal takes place at $56.00. Summary: Technical indicators have turned bullish. BUY! ENCANA CORP
(ECA-NYSE) @ $59.38 Stop: Use a protective stop of $56.88.
ENCANA CORP is currently trading @ $59.15 plus $2.84 on May 11, 2007. Price Objective:
$72.50. Risk/Reward: $2.50 VS. $13.12. Today's Risk Reward Ratio: 5;1
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