GENETECH INC
(DNA-NYSE):
Technical Viewpoint: From a low
of $70.00 on Oct 10, 2008 prices
rallied, reaching a
high of $87.35
on Oct 21, 2008. A
decline saw prices pull back, reaching a
low of
$69.17 on Nov 21, 2008.
Another rally saw prices penetrate
resistance, closing 12/19/08
at $83.45. Technicals: MACD Index (MACD): A Buy Alert!
was given on Dec 10, 2008 when the solid line crossed the dotted line to the upside.
Support: Remains at $76.00. Resistance: Is at $85.93.
Point & Figure: Reversed to the upside on Dec 3, 2008. A P&F upside
reversal takes place at $81.00. Summary: Technical indicators have turned bullish. BUY! GENETECH INC
(DNA-NYSE) @ $84.38 Stop: Use a protective stop of $81.63.
GENETECH INC is currently trading @ $83.45 plus $3.45 on Dec 19, 2008. Price Objective:
$97.00. Risk/Reward: $2.75 VS. $12.62. Today's Risk Reward Ratio: 5:1
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