ANADARKO PETROLEUM CP
(APC-NYSE):
Technical Viewpoint: From a low
of $58.80 on Sep 25, 2000 prices
rallied, reaching a
high of $69 3/4
on Oct 3, 2000. A
decline saw prices pull back, reaching a
low of
$65 1/4 on Oct 5, 2000.
Another rally saw prices penetrate
resistance, closing 10/10/00
at $71.00. Technicals: Momentum Index (MTM): A Buy Alert!
was given on Oct 2, 2000 when the solid line crossed the dotted line to the upside.
Support: Remains at $67.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Oct 10, 2000. A P&F upside
reversal takes place at $68.00. Summary: Technical indicators have turned bullish. BUY! ANADARKO PETROLEUM CP
(APC-NYSE) @ $72 1/8 Stop: Use a protective stop of $69 3/8.
ANADARKO PETROLEUM CP is currently trading @ $71.00 plus $4.10 on Oct 10, 2000. Price Objective:
$86.00. Risk/Reward: $2 3/4 VS. $13 7/8. Today's Risk Reward Ratio: 5:1
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