Wall Street Traders Column 11/14/05 - Buy WBSN
November 15th, 2005 / 3:16 am / by Harry Aloof
Buy Alert - WEBSENSE INCORPORATED (WBSN-Nasdaq) - Report No. 2144, Analysis by Harry Aloof - Technical Viewpoint - From a low of $52.42 on Oct 13, 2005 prices rallied, reaching a high of $62.30 on Nov 3, 2005. A decline saw prices pull back, reaching a low of $57.78 on Nov 8, 2005. Another rally saw prices penetrate resistance line “A”, closing 11/11/05 at $63.10. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Nov 11, 2005 when the Histogram crossed the “0″ line to the upside. Support: Remains at $58.15. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Nov 11, 2005. A P&F downside reversal takes place at $60.00. Summary: Technical indicators have turned bullish. BUY! WEBSENSE INCORPORATED (WBSN-Nasdaq) @ $63.75 Stop: Use a protective stop of $61.25. WEBSENSE INCORPORATED is currently trading @ $63.10 plus $4.10 on Nov 11, 2005. Price Objective: $76.00. Risk/Reward: $2.50 VS. $12.25. Today’s Risk Reward Ratio: 5:1
