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| 2/25/99 Lernout & Hauspie
Speech Products (LHSPF)
Points to watch: LHSPF has been in a
trading range between 30 and 42.5 since October. The stock is making its 5th run at
the bottom of the range, where strong Fibonacci support exists (30.3, the 62% retracement
of the 6/96-4/98 rally). Lernout has fallen below the Gann 1x4 angle on its weekly
chart (33.1) for the first time since January 1999. LHSPF is now trading below its
21 day (32.86) and 55 day (34.48) moving averages. Technical indicators continue to
make new lows, confirming the price drop. Weekly OBV has been in a downtrend since
May 1998 and daily OBV has been in a downtrend since July 1998. Daily and weekly RSI
remain in downtrends. Short LHSPF if it breaks below 30 (the stock closed at 30.38
yesterday).
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