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9/02/99 Manpower Inc (MAN)
Points to watch:
Manpower is breaking out after forming a
solid base over the past year. The stock broke through resistance at
28.25 yesterday, a level which had previously provided resistance in
October 1998 and again in January (28.25 also acted as support in November
1996). The stock closed at 28.88, the 38% retracement of its
5/98-10/98 decline. Technical indicators have added confirmation to
the stock's recent rally. A close above yesterday's highs would give a buy
signal, with a first upside target of 32.13, and a second upside target of
35.5.
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