01/20/00 Hologic Inc (HOLX)
Points to watch:
Hologic ended a multi-year decline on
October 21st when it bottomed at 3. The stock doubled from late
October to December 6th when it ran into resistance intraday at 7.25, the
50% retracement of its late March-October leg down.
The stock has been consolidating over
the past month and is now retesting the December highs. HOLX closed
up 0.06 at 6.75 yesterday after hitting an intraday high of 7.06.
Long and short term technical indicators
remain positive. Daily RSI and stochastics turned up in early
January. Weekly RSI and stochastics have risen above 40 from
oversold readings, and daily OBV has been rising sharply since the stock
bottomed in October.
A buy signal would be given on a break
above 7.25, with resistance after a break at 8.6, 9.5-9.8, and 10.6.
Support is at 6.5 and 6.1.