Wall Street Traders Column 10/10/05 - Buy PIXR
October 10th, 2005 / 9:28 pm / by Harry Aloof
Buy Alert - PIXAR (PIXR - Nasdaq) - Report No. 2139, Analysis by Harry Aloof - Technical Viewpoint - From a low of $41.61 on Aug 29, 2005 prices rallied, reaching a high of $45.98 on Sep 8, 2005. A decline saw prices pull back, reaching a low of $40.80 on Sep 22, 2005. Another rally saw prices penetrate resistance line “A”, closing 10/7/05 at $48.26. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Sep 30, 2005 when the Histogram crossed the “0″ line to the upside. Support: Remains at $45.00. Resistance: Is at $54.00. Point & Figure: Reversed to the upside on Sep 30, 2005. A P&F downside reversal takes place at $45.00. Summary: Technical indicators have turned bullish. BUY! PIXAR (PIXR-Nasdaq) @ $48.38 Stop: Use a protective stop of $46.38. PIXAR is currently trading @ $48.26 plus $3.74 on Oct 7, 2005. Price Objective: $39.75. Risk/Reward: $2.00 VS. $10.62. Today’s Risk Reward Ratio: 5:1
