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| 5/7/99 America Online (AOL)
Points to watch: AOL is nearing important support levels and yesterday closed below its 55 day moving average for the first time since it crossed above it on October 20. The stock closed on Thursday at 119.75, the 62% retracement of its March 8th to April 6th rally. Additional downside Gann angle support exists at 113. On a break below the 113 level the stock would likely retrace its steps back to its March 8th level where support exists at 85. On the plus side for AOL, daily MACD remains on the buy signal given on 10/27. On the minus side for AOL, the stock remains extremely overextended above its 200 day moving average at 65.32. Watch AOL in the next few days.
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