05/15/00 British Airways Plc (BAB)
Points to watch:
British Airways has built a solid base
since bottoming at 42.25 on February 15th, and looks ready to move higher.
BAB moved above its 200 day moving
average on Thursday (56.4), and above resistance at 56.75 (the 3/23
intraday high), ending the day at 57.50 after hitting an intraday high of
58.50 (just above the 62% retracement of its January-February
decline). On Friday the stock again tested the 62% retracement
level, hitting an intraday high of 58.44 before backing off to finish the
day down 0.19 at 57.31.
Short term technicals are strong: MACD
gave a buy signal on Friday, OBV is at a new high, and RSI and stochastics
are in uptrends.
A buy signal would be given on a break
above Thursday's high of 58.50, with the next resistance after a break at
62, 66.5, 68.2, 71.5, and 78. Support is at 52.6 and 49.1.
