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9/07/99 Corel Corp (CORL)
Points to watch: One
to watch over the next few days. Corel's stock has risen sharply
recently. The stock hit an intraday high of 6.94 on August 30th, but
was unable to close above resistance at 6.68 (the 6/27/97 high). The
stock then fell back, finding support at 5.38 (the 2/11/99 high) last
Thursday. The stock resumed its climb on Friday, closing at 5.97,
just above its July 16th intraday high of 5.94. Technical indicators have confirmed
the stock's recent rally, daily MACD gave a buy signal on June 16th, and
weekly OBV has been rising sharply since early July, reaching a new high
last week. We would wait for the stock to close above the resistance at
6.68, and then break the August 30th high of 6.94 before acting on this
one.
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