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6/15/99 Donaldson, Lufkin & Jenrette (DLJ)
Points to watch: DLJ has lost over 50% of its value since hitting an all time high of 100 3/4. After backing off from its April 13th spike high, two important sell warnings were given in May: daily MACD gave a sell signal on May 10th, and the 21 day moving average crossed below the 55 day M.A. on May 21st. Yesterday the stock closed below its 200 day moving average (49.38) for the first time since January 6th. The stock tested and held important Gann angle support at 47.5 intraday yesterday. A move below this support at 47.5 would give a strong sell signal, with the next downside support at 40-41.
