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10/06/99
Hollywood Park (HPK)
Points to watch: One
to watch in the coming days. The stock gapped up 7/8 at the open on
Tuesday, rising as high as 17.88 before backing off to close the day up
1.25 at 16.88.
The intraday high
of 17.88 is resistance, a level which stopped previous rally attempts on
8/19, 8/20, and 9/17. A move above this level would confirm the
short term double bottom which is forming on the stock's daily chart, with
lows at 14.38 on August 5th and at 14.88 on October 1st. Additional
resistance exists at 18.75, the top of the gap down formed on
1/29/98. A buy signal would be given if the stock closes the gap and
moves above 18.75-19.
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