|
Home
Up
Co-brand
Partnerships
| |
| 4/19/99 Merrill Lynch (MER)
Points to watch: One to watch this week.
MER tends to be a good leading indicator for the market and usually changes trend before
the major averages. After peaking early last week the stock has reversed and Friday
tested and held important support near 86 (the 25% retracement of the 12/94-7/98 rally.
This level has acted as support in March and April, and also acted as support from
5/98-6/98. Additional downside support exists at 82 9/16 (up trendline from October
lows). A break below this support band from 82.56-86 would be a good leading signal
to lighten long positions in the overall market.
|
|
