Wall Street Traders Column 8/29/05 - Buy CWTR
August 29th, 2005 / 4:46 pm / by Harry Aloof
Buy Alert - COLDWATER CREEK INC (CWTR-Nasdaq) - Technical Viewpoint: From a low of $26.00 on Aug 5, 2005 prices rallied, reaching a high of $27.94 on Aug 12, 2005. A decline saw prices pull back, reaching a low of $25.28 on Aug 24, 2005. Another rally saw prices penetrate resistance line “A”, closing 8/26/05 at $31.33. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Aug 25, 2005 when the Histogram crossed the “0″ line to the upside. Support: Remains at $26.50. Resistance: Is at $24.50. Point & Figure: Reversed to the upside on Aug 25, 2005. A P&F downside reversal takes place at $28.00. Summary: Technical indicators have turned bullish. BUY! COLDWATER CREEK INC (CWTR-Nasdaq) @ $31.50 Stop: Use a protective stop of $29.50. COLDWATER CREEK INC is currently trading @ $31.33 plus $0.41 on Aug 28, 2005. Price Objective: $40.50. Risk/Reward: $2.00 VS. $9.00. Today’s Risk Reward Ratio: 4:1
