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12/21/98 Boise Cascade Office Products (BOP) Points to watch: Stock is breaking out to the upside. On Tuesday the stock broke above its 55 day moving average (9.88) for the first time since last May. The stock closed on Friday just above strong resistance at 12. The stock has broken above the Gann 1x1 angle resistance that had held since May 1996. Daily and weekly OBV are in strong uptrends. Daily and weekly stochastics and RSI are all in uptrends. The MACD signal line has crossed above 0, giving a buy signal. Daily CCI has given a buy signal. Weak overhead resistance exists at 12.24 (the 38% retracement level). Buy on a move above 12.3, placing a stop near Gann support at 10.6. |
