Wall Street Traders Column 8/22/05 - Buy NVDA
August 22nd, 2005 / 9:01 pm / by Harry Aloof
Buy Alert - VERTEX PHARMACEUTICALS VRTX-Nasdaq - Technical Viewpoint: From a low of $13.64 on Jun 15, 2005 prices rallied, reaching a high of $18.14 on Jul 21, 2005. A decline saw prices pull back, reaching a low of $15.33 on Aug 4, 2005. Another rally saw prices penetrate resistance line “A”, closing 8/19/05 at $18.80. Technicals: MACD Histogram (MACD-H): A Buy Alert! was given on Aug 19, 2005 when the Histogram crossed the “0″ line to the upside. Support: Remains at $16.25. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Aug 12, 2005. A P&F downside reversal takes place at $17.50. Summary: Technical indicators have turned bullish. BUY! VERTEX PHARMACEUTICALS (VRTX-Nasdaq) @ $19.25 Stop: Use a protective stop of $17.75. VERTEX PHARMACEUTICALS is currently trading @ $18.80 plus $2.43 on Aug 19, 2005. Price Objective: $27.50. Risk/Reward: $1.50 VS. $8.25. Today’s Risk Reward Ratio: 5:1
