|
Home
Up
Co-brand
Partnerships
| |
|
8/31/99 Hanson Plc (HAN)
Points to watch: Hanson Plc stock
peaked on May 6th (RSI showed a strong negative divergence during the May
price high), and has drifted steadily downward since then. The stock
fell below its 200 day moving average (42.69) last Thursday for the first
time since it climbed above the average last September. Yesterday
the stock closed at 41.25, just below the 50% retracement of its 1/29-5/6
rally at 41.38, a level which also provided support on August 5th and
acted as resistance last December 18th. A strong sell signal would be
given if the stock fails to hold this support level. we would expect
the stock's rate of decline to accelerate if it breaks support. The
first downside support on a move below support is 39, and then 35.
|
DISCLAIMER
|
