G
12/22/98 Ralston-Purina Group (RAL) Points to watch: Ralston is forming a double top on its weekly chart. The stock's September to November rally failed to produce new highs and occurred on weak volume. On Monday, RAL closed just below key Gann angle support at 31 and broke trendline support at 32. RAL has fallen below its 21 day moving average (34.11), 55 day moving average (32.92), and 200 day moving average (33.53). Weekly stochastics has given a sell signal. Weekly RSI and OBV are in downtrends. Daily CCI and daily MACD have given sell signals. Daily OBV showed extreme divergence with price action during the September-November rally. Short on a break below support at 31, placing a stop near the 200 day moving average. |
