|
Home
Up
Co-brand
Partnerships
| |
| 5/20/99 Fila Holdings
(FLH)
Points to watch: After a steep decline from
March to October of last year, Fila entered a 6 month trading range, building a strong
bottom. The stock began to strengthen in mid April, and broke above both its 55 and
200 day moving averages. Daily MACD gave a buy signal on April 19th. Yesterday
Fila closed above 15.25, the 38% retracement level (of its 3/98-10/98 decline)
for the first time since last July 1st. 21 day momentum also made a new high
yesterday. The stock is at 16 now, and additional upside resistance exists at
17.75--the 50% retracement level. A move above this resistance would give a strong
buy signal, with a stop placed at 13.75-15.25, depending on your risk tolerance level.
|
|
