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8/12/99 Manpower Inc (MAN)
Points to watch: Manpower
has built a solid base over the past 8 months and appears ready to move
higher. MAN broke above its 200 day moving average (23.51) on
Tuesday, its first close above the average since May 27th. The
stock's short, intermediate, and long term trends are all now up.
Money is flowing into the stock, with both Money Flow and OBV rising
sharply. On Wednesday the stock touched resistance at 25.63
intraday, a level which also acted as resistance on April 19th & 20th
, before closing slightly below resistance at 25.43. A strong buy
signal would be given on a move above 25.63, with a first upside target of
28.25, a level which acted as resistance during last October and again in
January.
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