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Analog Devices Could Climb Still Higher in the Next Few Months

Bruce Kamich

In this daily bar chart of ADI, below, we can see a huge rally in the price of ADI in just the past six or seven weeks - from around $80 to near $106 The strength in the past week pushed prices above the June highs. The daily On-Balance-Volume (OBV) line shows a rise from late October and now the OBV line is close to breaking above its June high. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since the middle of January but the two moving averages that make up this indicator have narrowed.