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| 8/3/99 America
Online (AOL)
Points to watch:
AOL's slide continues, and all major
technical indicators continue to deteriorate, supporting a move to lower
prices. Weekly stochastics and daily MACD have given sell signals,
and both daily and weekly Money Flow and OBV continue to head lower The
stock closed yesterday at its 200 day moving average (92.77). A move
below the 200 day moving average would be a bearish signal, but we would
wait for the stock to break below its June 15th low of 89.5 before
acting. The first downside target is 84, with a second target of
79.75. Upside resistance is at 98.43 (the 50% retracement of the
10/9/98-4/6/99 rally).
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