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11/02/98 Union Pacific Corp (UNP) [Weekly Chart] Points to watch: Stock is in short term uptrend, but must break through strong resistance at 47.75 (Red Resistance on chart) for new intermediate-long term uptrend to be confirmed. Resistance at 47.75 is the 50% retracement level of the stock's prior swing down. Gann angle resistance (Angle A-A on chart) exists at 47.875. Daily MACD and RSI have turned up. Weekly CCI and MACD have given buy signals. Monthly OBV has broken down trend and has turned up sharply. Stock has had 2 straight closes above the upper channel line of a down channel, giving an additional buy signal. Buy after a close above the 200 DAY moving average at 49.12, placing a stop near the 38% retracement level at 45.25 |
