GLOBESPAN INC
(GSPN-Nasdaq):
Technical Viewpoint: From a low
of $66 1/2 on May 24, 2000 prices
rallied, reaching a
high of $113 1/4
on Jun 2, 2000. A
decline saw prices pull back, reaching a
low of
$104.00 on Jun 19, 2000.
Another rally saw prices penetrate
resistance, closing 6/28/00
at $109.94. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Jun 28, 2000 when the solid line crossed the dotted line to the upside.
Support: Remains at $88.00. Resistance: Is at $113 1/4.
Point & Figure: Reversed to the upside on Jun 27, 2000. A P&F upside
reversal takes place at $96.00. Summary: Technical indicators have turned bullish. BUY! GLOBESPAN INC
(GSPN-Nasdaq) @ $110 5/8 Stop: Use a protective stop of $107 1/2.
GLOBESPAN INC is currently trading @ $109.94 plus $9.44 on Jun 28, 2000. Price Objective:
$132.00. Risk/Reward: $3 1/8 VS. $21 3/8. Today's Risk Reward Ratio: 7:1
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