ELAN CORP PLC
(ELN-NYSE):
Technical Viewpoint: From a low
of $36 1/2 on Jun 12, 2000 prices
rallied, reaching a
high of $52.56
on Jul 10, 2000. A
decline saw prices pull back, reaching a
low of
$47.94 on Jul 13, 2000.
Another rally saw prices penetrate
resistance, closing 7/28/00
at $51 3/4. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jun 20, 2000 when the Histogram crossed the "0" line to the upside.
Support: Remains at $50.00. Resistance: Is at $52.56.
Point & Figure: Reversed to the upside on Jul 29, 2000. A P&F upside
reversal takes place at $49.00. Summary: Technical indicators have turned bullish. BUY! ELAN CORP PLC
(ELN-NYSE) @ $52 1/8 Stop: Use a protective stop of $49 5/8.
ELAN CORP PLC is currently trading @ $51 3/4 plus $1 1/4 on Jul 28, 2000. Price Objective:
$64.00. Risk/Reward: $2 1/2 VS. $11 7/8. Today's Risk Reward Ratio: 5:1
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