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12/28/99 Tekelec (TKLC)
Points to watch:
TKLC has rebounded sharply since
bottoming at 6.50 in mid-April and is now approaching its old highs at
25.25, set in August 1998. The stock has tested resistance during
the past 2 trading days, hitting intraday highs of 24.88 and 24.31 on
Thursday and Monday. TKLC finished down 0.44 at 22.81 yesterday, and
is unchanged after the first 15 minutes of trading today.
Technical indicators remain positive:
weekly MACD remains on its late August buy signal, and weekly OBV, RSI,
and Stochastics are rising.
A buy signal would be given on a break
above 25.25 to new highs, with upside resistance at 28, 29.4, and
31.3.
