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9/26/98   WORTHINGTON INDUSTRIES (WTHG)                                 Points to Watch: Breaking out of 6 month downtrend. Accumulation has been taking place over past month. OBV showed strong divergence with price action at bottom and is now in a strong uptrend. RSI, MACD, and Stochastics are all in uptrends. Moving average momentum has crossed above 0 and is in uptrend.  Stock broke through Fibonacci resistance at 13 5/16. Closed at important resistance level of 13 1/2 Friday (where the Gann 8x1 angle and 55 day moving average converge). We would wait for 2 closes above 13 1/2, or a 5% move through this level (whichever comes first) before buying. Downside support exists at 12 1/2, 12 5/16, and 11 1/2.

 

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