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7/12/99 Lernout & Hauspie Speech Products (LHSP)
Points to watch: A descending triangle is forming on the chart of LHSP, a bearish sign. Support is at 33.43 and resistance is at 38.88. The stock held support intraday Friday. The lower bound of the triangle at 33.43 also acted as support on April 19th and June 4th. Technical indicators continue to weaken. The MACD signal line gave a sell signal on June 2nd and remained below the 0 trigger line during the June rally off the bottom. A break below the support at 33.43 would be a signal to sell, or short the stock.
