03/06/00 Bausch & Lomb (BOL)
Points to watch: BOL
is down 30% from its January highs, and has given up all of the ground it
gained during its October-January rally from the 1999 lows. Friday's
close was the lowest close since November 1998. The stock hit a new
52-week low of 51.06 intraday Monday morning, briefly moving below the
support provided by the 10/29/99 low at 51.38. The stock is down
0.75 today at 51.75.
Long and
short term technicals continue to deteriorate. Daily MACD remains on its
January 26th sell signal, and daily OBV, RSI, and stochastics are all at
new lows. Weekly OBV, RSI, and stochastics have all turned down and
are moving lower.
A sell short
signal would be given if the stock fails to hold this morning's intraday
low of 51.06 and breaks to new lows. After a break, downside support
would be at 48, 45.9, and 43.4. Resistance is at 56.1 and
58.8.
