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| 6/14/99 E*Trade Group (EGRP)
Points to watch: EGRP has been in a steep downtrend over the past month. On May 28th the stock broke below its 55 day moving average for the first time since rising above it last November 2nd. The stock closed just above important support on Friday. The stock tested on an intraday basis, and held, the 50% retracement level (of its 10/8/98-4/14/99 rally) at 37.38. The 37.38 level previously acted as support during April 19th & 20th, and from June 2nd to 4th. The stock is short term oversold, but intermediate term indicators continue to weaken. MACD gave a sell signal on 6/3, and OBV has been trending down since mid April. A sell signal would be given on a move below support.
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