BROCADE COMMUNICATIONS
(BRCD-Nasdaq):
Technical Viewpoint: From a low
of $16.40 on Sep 19, 2001 prices
rallied, reaching a
high of $19.10
on Sep 25, 2001. A
decline saw prices pull back, reaching a
low of
$12.63 on Oct 2, 2001.
Another rally saw prices penetrate
resistance, closing 10/12/01
at $25.36. Technicals: MACD Index (MACD): A Buy Alert!
was given on Oct 3, 2001 when the solid line crossed the dotted line to the upside.
Support: Remains at $18.00. Resistance: Is at $27.00.
Point & Figure: Reversed to the upside on Oct 11, 2001. A P&F upside
reversal takes place at $23.00. Summary: Technical indicators have turned bullish. BUY! BROCADE COMMUNICATIONS
(BRCD-Nasdaq) @ $26.13 Stop: Use a protective stop of $24.13.
BROCADE COMMUNICATIONS is currently trading @ $25.36 plus $2.63 on Oct 14, 2001. Price Objective:
$40.00. Risk/Reward: $2.00 VS. $14.00. Today's Risk Reward Ratio: 7:1
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