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5/11/99 Trump Hotels &
Casino (DJT)
Points to watch: After forming a base for 8
months, DJT is showing signs of being ready to break out to the upside. The stock
has broken above its 200 day moving average for the first time since it fell beneath it in
late March 1998. Daily MACD gave a buy signal on April 28th. Yesterday DJT
closed above Gann angle resistance at 5.56. The stock must still move above
resistance at 6.06-6.12, near the January highs, to give a buy signal and confirm the
bottom which has been forming over the past several months. |
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