BPZ RESOURCES INC
(BZP-NYSE):
Technical Viewpoint: From a low
of $17.20 on Apr 14, 2008 prices
rallied, reaching a
high of $20.82
on Apr 23, 2008. A
decline saw prices pull back, reaching a
low of
$17.35 on May 1, 2008.
Another rally saw prices penetrate
resistance, closing 5/9/08
at $23.67. Technicals: MACD Index (MACD): A Buy Alert!
was given on May 2, 2008 when the solid line crossed the dotted line to the upside.
Support: Remains at $17.50. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on May 2, 2008. A P&F upside
reversal takes place at $22.00. Summary: Technical indicators have turned bullish. BUY! BPZ RESOURCES INC
(BZP-NYSE) @ $24.13 Stop: Use a protective stop of $22.13.
BPZ RESOURCES INC is currently trading @ $23.67 plus $1.77 on May 9, 2008. Price Objective:
$32.50. Risk/Reward: $2.00 VS. $8.38. Today's Risk Reward Ratio: 4:1
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