Cott Corp (COTT), Oak Technology (OAKT)
Points to watch:
Both Cott Corp and Oak Technology have
ended multi-year downtrends and now appear ready to move higher.
Cott Corp- COTT broke above a
long term resistance level at4.94 last week, This level which had
acted as resistance in April 1999 and as support in August 1998.
Technical indicators continue to confirm the stock's rally: weekly MACD
gave a buy signal on 10/24, daily and weekly stochastics are rising, and
daily OBV is rising sharply and hit a new high on Wednesday.
A buy signal was given on
Wednesday. The next upside resistance levels are at 6.5, 7.75,
8.5. Support is at 4.88-5.13 and 4.2-4.4.
Oak Technology (OAKT)- OAKT has
built a solid base over the past year and now appears ready to move
higher. The stock has tested resistance at 7.38 over the past 3
weeks but has been unable to move above this resistance level. The
7.38 level has acted as resistance this month and in March 1999, and
it acted as support during April 1997. Technical indicators continue
to improve: Money Flow and OBV are rising sharply, and weekly MACD gave a
buy signal on October 24th.
A buy signal would be given on a break
above resistance at 7.38, with the next upside resistance coming at
10.25-10.4, 12.5, and 14.5 Resistance is at 5.75 and 5.13.