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5/13/99 Sensormatic Electronics
(SRM)
Points to watch: The stock's recovery from last
October's lows has accelerated in recent weeks. SRM moved above both its 21 day
(11.14) and 55 day moving averages in late April. Money Flow and OBV are both
rising, and daily MACD gave a buy signal on 4/23. Intraday yesterday the stock
touched and reversed off of resistance at 13.68 (13.68 is the 62% retracement of the
2/98-10/98 decline. Downside support exists at 11.75. A break above resistance
at 13.06 would be a buy signal.
