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Technical Analysis of Monthly and Weekly Stock Charts
Sunday, January 22, 2006

Weekend Update - BMET, CPTS, & FRK

Biomet, Inc. (BMET)- Monthly Chart
The monthly chart of Biomet shows that, it too, is in a possible ascending triangle. As you can see BMET has held it's 12 year uptrend line and there has been 4 months of up trending prices. In addition, stochastics and the PPO seem to have bottomed and are starting to reverse upwards. This is a low risk entry point and it is a low risk stock. It may not move fast but that is OK. If it goes up to test resistance around 49.00 that is a good $12.00 gain from entry at $36.00. Furthermore, momentum will pick up the closer we to the $49.00 area. Longer term price target is $70.00, stop is at $32.50.

Conceptus, Inc. (CPTS)- Monthly Chart
The monthly chart illustrates that CPTS is in an ascending triangle pattern. It has just completed a wave 3 to 4 pullback and is now heading back up. It is in an outside bullish reversal, with volume. The Aroon just turned bullish and the PPO looks great as do the stochastics are bull flagging. Price target is in the low $20.00's.

Florida Rock Industries Inc. (FRK)- Monthly Chart
FRK is a cement play. On the monthly chart you can see that FRK is forming an ascending triangle pattern within the uptrend channel. Furthermore, it is now backtesting the uptrend line. FRK is also a failed topping pattern. A very large one at that. Currently FRK is at support at $49.00 and resistance is at $55.00. Once it breaks above $55.00 we should start to see some momentum. The next resistance level is at $56.00. Indicators are bottoming and look to reverse to the upside and the stock is at support. Keep your position small.

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BMET Chart Pattern
CPTS Chart Pattern
FRK Chart Pattern