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Strategies & Market Trends : RESISTANCE LEVELS- Ceilings & breakouts <30 min old -- Ignore unavailable to you. Want to Upgrade?

To: WHL who wrote (565)	12/8/1998 9:05:00 AM
From: WHL	Read Replies (2) \| Respond to of 621

SY R @ 12 1/4 ADV only 10,000 or so. Volume is low enough so that manipulation may occur. Watch out for this! Unless the breakout is on at least 100,000 shares, I would probably leave it alone. This stock has one of the best chart patterns that I have ever seen. Moreover, it appears to be rock solid based upon fundamentals. This mainstream (seating) stock got hurt due to an international sales drop- which, according the company, will normalize once the international scene normalizes. I don't think that there's been a lot of manipulation in the stock to date. The company has apparently decided to buy back all stock available at $11 per share. The floor at that price has survived numerous challenges (including the drop in August/Sept). The resistance is now about 12 1/4. This is also the level of the Bollinger band ceiling. The chart pattern is wedging and the Bollinger bands tightening- so the lower resistance level of 12 1/4 seems appropriate (rather than 12 13/32).