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| 3/19/99 Atwood Oceanics (ATW)
Points to watch: ATW has been basing since
bottoming last September. Yesterday the stock moved above its 200 day moving average
(26.14) for the first time since last June 1st. Weekly stochastics has given a buy
signal. Weekly RSI and MACD are in uptrends. Daily OBV is rising sharply, and
daily MACD gave a buy signal on March 11th. Strong overhead resistance exists at
32.5, the 38% retracement of Atwood's May-September decline. A rally attempt in
November was stopped by this resistance. Buy only if the stock breaks above the 38%
retracement lvel at 32.5.
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