Harry Aloof
05-01-2008, 10:48 PM
From Wall Street Trader's Column (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
CYTEC INDUSTRIES (CYT-NYSE): Technical Viewpoint: From a low of $51.06 on Mar 20, 2008 prices rallied, reaching a high of $58.31 on Apr 7, 2008. A decline saw prices pull back, reaching a low of $55.01 on Apr 15, 2008. Another rally saw prices penetrate resistance, closing 4/18/08 at $61.93. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 1, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $56.00. Resistance: Is at $62.12. Point & Figure: Reversed to the upside on Apr 1, 2008. A P&F upside reversal takes place at $59.00. Summary: Technical indicators have turned bullish. BUY! CYTEC INDUSTRIES (CYT-NYSE) @ $62.13 Stop: Use a protective stop of $59.63. CYTEC INDUSTRIES is currently trading @ $61.93 plus $5.08 on Apr 18, 2008.
Price Objective: $79.50
Risk/Reward: $2.50 VS. $17.37
Today's Risk Reward Ratio: 7:1
http://18004wallstreet.com/images/charts/Chart2274-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
CYTEC INDUSTRIES (CYT-NYSE): Technical Viewpoint: From a low of $51.06 on Mar 20, 2008 prices rallied, reaching a high of $58.31 on Apr 7, 2008. A decline saw prices pull back, reaching a low of $55.01 on Apr 15, 2008. Another rally saw prices penetrate resistance, closing 4/18/08 at $61.93. Technicals: MACD Index (MACD): A Buy Alert! was given on Apr 1, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $56.00. Resistance: Is at $62.12. Point & Figure: Reversed to the upside on Apr 1, 2008. A P&F upside reversal takes place at $59.00. Summary: Technical indicators have turned bullish. BUY! CYTEC INDUSTRIES (CYT-NYSE) @ $62.13 Stop: Use a protective stop of $59.63. CYTEC INDUSTRIES is currently trading @ $61.93 plus $5.08 on Apr 18, 2008.
Price Objective: $79.50
Risk/Reward: $2.50 VS. $17.37
Today's Risk Reward Ratio: 7:1
http://18004wallstreet.com/images/charts/Chart2274-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)