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| 7/06/99 Intermet Corp (INMT)
Points to watch: INMT closed beneath its 200 day moving average (13.46) on Friday, which had provided support since May 18th. A short term double top (with highs on April 23-26, and July 1st was also confirmed when the stock broke support at 13.45. Daily RSI showed negative divergence with price on Thursday's second top, and weekly stochastics has given a sell signal. Intermet closed on Friday at the 38% retracement of its December 2nd- April 23rd rally (13.06), a level which acted as resistance in February and March until the stock moved above it on March 29th. A breaking of the support at 13.06, and a move by the daily MACD signal line (now at 0.0159) below 0 would give a strong sell signal.
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