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| 4/28/99 Toys R Us (TOY)
Points to watch: Since bottoming in February
TOY has reversed trend to the upside. On March 31st the stock broke above its 200
day moving average (18.49) for the first time since late 1997. On April 22nd TOY
moved above resistance at 21.19 which had previously stopped a contratrend rally on
11/4/98. Yesterday the stock touched Gann angle resistance at 23.88 intraday but
reversed to the downside and finished the day at 23.13. Technical indicators remain
strong: Weekly MACD gave a buy signal on 3/5 and daily MACD gave a buy on 3/8. Daily
OBV turned up in early March and weekly RSI is in a strong uptrend. The stock will
likely retest the resistance at 23.88. A buy signal would be generated with a break
above this resistance level.
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