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10/19/99
VISX Inc (VISX)
Points to watch:
VISX peaked on July 28th at 103.88 and
has been steadily losing ground since then. The stock tumbled 5.06
yesterday to close at 64.94, its first close beneath its 200 day moving
average since last October.
Technical indicators are uniformly
negative: daily MACD gave a sell signal on 9/28, weekly stochastics has
given a sell signal, daily and weekly OBV have been falling since early
September, weekly RSI showed negative divergence during the July high and
has been in a downtrend since April.
We would sell, or short the stock if it
breaks below yesterday's intraday low of 63.88. If the stock fails to hold
this support level, it will likely try to fill the gap up formed on June
4th at 55.88
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