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10/12/98 Texas Utilities (TXU):

Extremely overbought on panicked flight to quality buying. Closed Friday  below important support levels (Fibonacci at 45.7, Gann 4x1 angle at 45.8). Divergences  shown by weekly RSI, MACD at peak. Weekly OBV has turned down. Weekly money flow showed divergence at top, in steep decline.  Daily stochastics has turned down from overbought. Daily RSI has fallen below 70 from an extreme reading of 91.  ADX has turned down from 40. %R has given sell confirmation.   Short on move below 45, placing a stop near 48.

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Last modified: April 02, 2000

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