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2/4/99 Bebe Stores Inc (BEBE)
Points to watch: BEBE touched and held 3
important support points intraday on Wednesday. The stock tested the 38% retracement
level (31.39) of its October to January parabolic surge from 12 to 44 before closing at
32.06. The stock also tested Gann support at 31.88, and its 55 day moving average at
31.38 (which it rose above on November 2nd). The trend remains down, and technical
indicators are decidedly negative. Weekly OBV and stochastics have turned down
sharply. Daily CCI has given a sell signal. Daily ADX has fallen below 40 giving a
sell warning. Daily OBV, RSI, stochastics, and MACD are all in steep downtrends. The
stock is likely to break below the 31.38 support level. Sell, or short when it does.
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Last modified: April 02, 2001
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