Points to Watch: Drug industry group
chart has broken out to downside. WLA's chart shows a failed double top. Weekly
Money Flow has been in steep decline since July price peak. Daily and weekly MACD, RSI,
and Stochastics are all in downtrends. %R in downtrend. Weekly ADX has fallen
below 40 from extreme overbought levels. Stock broke important Gann angle support which
had held since last December. Fell below fibonacci support at 67.18 today. Short,
placing a stop 2-5% above Gann resistance at 70 according to your risk tolerance. Downside
support levels exist at 61 and 55.
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Last modified: April 02, 2001
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