01/13/00 P-Com Inc (PCMS)
Points to watch: PCMS
broke above important resistance at 10.38, the stock's 1999 high,
yesterday en route to a gain of 1.93 that lifted the stock to its highest
close (11.06) since June 1998.
The stock has gained another 0.75 in the
first hour of trading today, moving up to resistance at 11.81, the 50%
retracement of its sharp June-October 1998 decline.
Long and short term technical indicators
have confirmed the stock's month long rally. Daily MACD gave a buy
signal on 12/8/99, and both daily and weekly OBV, RSI, and stochastics are
rising sharply.
A buy signal would be given if the stock
closes above 11.81 today, and opens tomorrow at or above today's
close. Upside resistance is at 13.9 (the 62% retrace of the
6/98-10/98 decline), 15.7, and 17.8. Support is at 10.3 and 9.4.
