MASTERING
THE TRADE
ORIGINAL, INTERACTIVE
SEMINAR ON TRADING USING
TECHNICAL ANALYSIS
EARNINGS
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QUOTES
U.S.
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1/12/99 Roberts
Pharmaceuticals (RPC)
Points to watch: A double top formed at 24 on
Roberts weekly chart with peaks in July and November. Weekly MACD, Money Flow, and
RSI all showed strong divergence with price on the second peak in late November. The
stock has fallen below its 55 week moving average and has broken below Gann 1x2 angle
support at 20.27 which had held since February 1998. Daily RSI, Money Flow, OBV, and
MACD are all in downtrends. Daily CCI has given a sell signal. Downside
support exists at 19 (the 38% retracement of the 10/97-11/98 move up). Sell, or
short, on a break below 19.
