WATSON PHARMACEUTICALS
(WPI-NYSE):
Technical Viewpoint: From a low
of $51.19 on Jul 13, 2000 prices
rallied, reaching a
high of $58 1/8
on Jul 17, 2000. A
decline saw prices pull back, reaching a
low of
$53.00 on Jul 19, 2000.
Another rally saw prices penetrate
resistance, closing 7/24/00
at $58 7/8. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on May 21, 2000 when the Histogram crossed the "0" line to the upside.
Support: Remains at $54 1/2. Resistance: Is at $None.
Point & Figure: Reversed to the upside on Jul 21, 2000. A P&F upside
reversal takes place at $57.00. Summary: Technical indicators have turned bullish. BUY! WATSON PHARMACEUTICALS
(WPI-NYSE) @ $59 1/2 Stop: Use a protective stop of $56 3/4.
WATSON PHARMACEUTICALS is currently trading @ $58 7/8 plus $3.00 on Jul 24, 2000. Price Objective:
$69.00. Risk/Reward: $2 3/4 VS. $9 1/2. Today's Risk Reward Ratio: 3:1
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