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12/08/98 Harmon Industries (HRMN) Points to watch: Stock broke below Gann angle support at 22. On Monday, the stock closed below the 62% Fibonacci retracement level (20.83), and below its 55 week moving average (21.15). Weekly and daily MACD have given sell signals. Weekly stochastics, RSI, and OBV are in downtrends. After a bear rally to 55, daily RSI has once again turned sharply lower. Daily OBV showed strong negative divergences with price during the October price peak, and has been in a decline since late July. Downside support exists at 19.63-20. Short on a move below this support level, placing a stop at 22. |
