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| 2/12/99 Banco Latinoamerica
(BLX)
Points to watch: Bladex formed a double
bottom on its weekly chart with bottoms in October and December. The pattern was
confirmed this week with the stock's move above its November reaction peak. Weekly
ADX has fallen from 72 at the October price low to under 40 (39.1), giving a signal that a
bottom is in place. Bladex moved above its 55 week weighted moving average (at 22.5)
this week for the first time since January 1997. On Thursday BLX closed even with
its 200 day moving average at 23.25. Money flow is positive and rising. Weekly
Money Flow, weekly OBV, and daily OBV are all in uptrends. Weekly CCI has given a
buy signal. Watch the stock over the coming week, and wait for a breakout above 25
(the 38% retracement of its 1/98-10/98 decline) before initiating long positions.
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