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| 3/17/99 Rexall Sundown (RXSD)
Points to watch: Rexall gapped up at the open
on Tuesday and is ready to break out to the upside. A double bottom has been confirmed on
its daily chart. The stock crossed above both its 21 day and 55 day moving averages
on March 4th. The stock has moved above its 200 WEEK moving average (16.341) for the
first time since last October. Long and short term technical indicators are strong.
Daily stochastics and OBV are in uptrends. Weekly stochastics and MACD have
both given buy signals. On Tuesday RXSD moved above resistance at 20 to an intraday
high of 21.38. The stock was unable to hold above resistance at 21.13 (the point at
which Fibonacci resistance and the 200 day moving average converge), and closed at 20.25.
Wait for the stock to successfully move above yesterday's high before buying.
More conservative traders should wait for the stock to move above 22.25 (the 11/4
spike high) before buying.
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