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| 4/1/99 Disney Corp (DIS)
Points to watch: Disney closed at its lowest
level since January 6th yesterday. The stock has broken below both its 21 day
(34.34) and 55 day moving averages, with the 21 day moving average crossing below the 55
day on Tuesday. Disney broke an important support zone yesterday at 32.5 (Gann angle
support)-32.75 (the 38% retracement of its 10/98-1/99 rally which had acted as support in
late January-early February)-32.25 (its 200 day moving average). The stock closed
just below important support at 31.38 (the 38% retracement of its 10/94-5/98 rally.
Weak support exists at 30.1 (the 38% retrace of the 5/98-10/98 decline), conservative
traders should wait to take action until the stock breaks below this support
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