10/12/99
Qwest Communications (QWST)
Points to watch:
QWST is showing renewed signs of
strength after building a solid bottom from early August to early
October. The stock closed on Monday at 38.06, its highest close
since June 21st.
The stock climbed above its 200 day
moving average (33.95) on October 5th, and closed above Gann resistance at
35.9 on October 8th. Technical indicators have confirmed the stock's
recent rally: weekly RSI has turned up from oversold, daily MACD
gave a buy signal on 10/4, stochastics and OBV are rising sharply.
A buy signal would be given if the stock
breaks above resistance at 39.06, the June 21st high. The stock
would next encounter resistance at 43.94, the top of the gap down formed
on June 14th.
