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10/20/98 Asia Pulp and Paper (PAP) Points to watch: Stock has broken out to upside on daily and weekly charts. Consolidated in 5-6 range for 1 1/2 months before breakout. Weekly OBV is in a strong uptrend. Daily OBV has turned up. Weekly RSI and stochastics have turned up. Daily MACD, RSI, and stochastics are in uptrends. Resistance exists at 8.55-8.63: Gann at 8.63, Fibonacci at 8.55 (the 50% retracement of the fall from the prior swing high in late June). Buy on move above this resistance area. |
