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| 6/10/99 America West Holdings (AWA)
Points to watch: AWA's October-January rally was stopped at the 62% retracement level (of its 7/98-10/98 decline) at 22.75. Two subsequent rally attempts by the stock in February and March were also stopped at the 62% retrace level. The stock has been in a downtrend since mid April, with technical indicators also deteriorating. Daily RSI and MACD are in steep declines, and OBV has been slowly rolling over with a downward bias since mid May. The stock closed yesterday near critical support levels: its 200 day moving average at 17.35, and the 38% retracement of its 7/98-10/99 decline at 17.56. A break below this support would be a signal to sell, or short the stock.
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