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8/27/99 DoubleClick (DCLK)
Points to watch: A
short term play. The stock broke above resistance yesterday, closing
above both its July high of 105.13 and the 38% retracement of its 4/26-8/5
decline at 104. Technical indicators have confirmed the move higher: OBV
showed positive divergence at the August low and is rising sharply, as are
daily RSI and stochastics. Daily MACD gave a buy signal
yesterday. We would buy the stock on a move above yesterday's close
of 105.94 while maintaining a close trailing stop, with a target of the
next overhead resistance at 118.25.
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