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12/29/98 Remedy Corp (RMDY) Points to watch: RMDY completed an Elliott Wave 5 down pattern on 10/8. The stock has broken above strong support at 12.88. On Monday, the stock closed above its 200 day moving average (15.01). The stock successfully held support (the 38% retracement level at 14.47) on an intraday test. Upside resistance exists at 16.59 (the 50% retracement level), and 18.81 (Gann resistance). Daily Money Flow, OBV, MACD, stochastics, and RSI are in uptrends. Weekly MACD, RSI, and stochastics are in uptrends. Weekly OBV has turned up, and weekly CCI has given a buy signal. Buy above 15.5, placing a stop at 12.88 or higher depending on your risk tolerance. |
