11/09/99 Barnesandnoble.com Inc (BNBN)
Points to watch:
BNBN tested support at 17.68 yesterday,
a level that it has tested and successfully held 6 times over the past 2
months. The stock closed at 17.80, down 0.20 on the day.
Technical indicators have weakened as the stock has made this latest run
at support: Daily MACD gave a sell signal on October 29th, daily
stochastics and RSI are in strong downtrends, OBV has begun to turn down.
A
sell short signal would be given on a break below the support at
17.68.
If the stock holds
support, we would wait for BNBN to move above strong resistance at
19.7-20.8 before initiating long positions, with a first target of
23.5.
