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10/11/99
Chemfirst Inc (CEM)
Points to watch:
After enduring an 11 month decline from
December 1997 to October 1998 which knocked 38% off its value, Chemfirst
has made an impressive turnaround over the past year and is now within
striking range of its old highs.
The stock closed Friday at 27.75, a new
52 week high. RSI also hit a new 52 week high on Friday. A buy
signal would be given if the stock takes out resistance at 28.63, a level
which stopped rallies in July 1997 and again in December 1997. The
21 week moving average, now at 25.14, can be used as a trailing stop if
the stock moves to new highs. |
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