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11/30/98 Mine Safety Appliances (MNES) Points to watch: Stock in strong downtrend. Fell below strong Gann 2x1 angle support (at 66.3) which had held since 9/96. Closed Friday beneath 100 week moving average (66.5) for first time since mid-September 1996. MNES has also broken beneath the 50 week moving average (at 70.6) and the 62.8% Fibonacci retracement level (68.6). Daily and weekly CCI have given sell signals. Daily and weekly OBV are in downtrends. Weekly RSI showed divergence at the top and is in a downtrend. Daily Money Flow is falling. Weekly MACD has given a sell signal. Weak downside support exists at 64.2 on the daily chart. Sell, or short, on a break below support. |
