ELANTEC SEMICONDUCTOR
(ELNT-Nasdaq):
Technical Viewpoint: From a low
of $53 5/8 on Jul 11, 2000 prices
rallied, reaching a
high of $86.00
on Jul 17, 2000. A
decline saw prices pull back, reaching a
low of
$58 1/8 on Aug 3, 2000.
Another rally saw prices penetrate
resistance, closing 8/29/00
at $88 1/2. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Aug 28, 2000 when the solid line crossed the dotted line to the upside.
Support: Remains at $80.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Aug 18, 2000. A P&F upside
reversal takes place at $82.00. Summary: Technical indicators have turned bullish. BUY! ELANTEC SEMICONDUCTOR
(ELNT-Nasdaq) @ $90 12/2 Stop: Use a protective stop of $87 1/2.
ELANTEC SEMICONDUCTOR is currently trading @ $88 1/2 plus $10 5/8 on Aug 29, 2000. Price Objective:
$126.00. Risk/Reward: $3.00 VS. $35 1/2. Today's Risk Reward Ratio: 12:1
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