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9/08/99 Clintrials Research (CCRO)
Points to watch: Since
bottoming last December 15th, CCRO has formed a solid base and looks ready
to move higher. The stock has been moving steadily higher since May, with
daily MACD giving a buy signal on July 2nd, and yesterday the stock closed
at 6.63, just below its August 3rd high of 6.88. Money Flow remains
positive, and weekly OBV has been rising steadily since bottoming last
December. Daily OBV hit a new high yesterday. A buy signal
would be given on a close above 6.88. Downside support is at 6.13
(the 62% retrace of its 3/10/98-12/15/98 decline), and at 5.43 (the 50%
retrace). We would use the 55 day moving average (now at 5.67) as a
trailing stop. The average acted as support on 8/30, 8/31, 9/1
during the stock's test of it.
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