BELLSOUTH CORP
(BLS-NYSE):
Technical Viewpoint: From a high
of $42 1/2 on Jun 25, 1999 prices
declined, reaching a
low of $46.87
on Jun 30, 1999. A
rally saw prices pull back, reaching a
high of
$44.06 on Jul 14, 1999.
Another decline saw prices penetrate
support, closing 7/20/99
at $46.31. Technicals: MACD-Histogram (MACD-H): A Sell Alert!
was given on Jul 20, 1999 when the Histogram crossed the "0" line to the upside.
Support: Remains at $43.00. Resistance: Is at $48.00.
Point & Figure: Reversed to the downside on Jul 20, 1999. A P&F downside
reversal takes place at $43.00. Summary: Technical indicators have turned bearish. SELL! BELLSOUTH CORP
(BLS-NYSE) @ $46 1/2 Stop: Use a protective stop of $44 3/8.
BELLSOUTH CORP is currently trading @ $46.31 minus $0.81 on Jul 20, 1999. Price Objective:
$62 1/2. Risk/Reward: $2 1/8 VS. $18 1/8. Today's Risk Reward Ratio: 8:1
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