06/21/00 Real Networks Inc (RNWK)
Points to watch:
After plunging 69% from its mid-February
all-time high, Real Networks has built a solid base over the past two
months and now looks ready to move higher.
The stock broke above resistance at 51
(the May 2nd intraday high) on Monday, confirming that a bottom is in
place. The stock tested important resistance on Tuesday, rising as
high as 57.43 before falling back to finish the day up 2 at 54.69.
The stock must overcome strong
resistance directly over head before it can move higher. Resistance
is at 56 (the January 6th low) and 57.4-57.8 (57.75 is the 10/8/99
intraday high, 57.45 is the 62% retracement of the stock's 3/27-4/17 final
swing down).
Short term technicals are strong: the
stock crossed above its 21 day moving average on June 14th for the first
time since March 14th, MACD gave a buy signal on 6/14, OBV has turned up,
and both RSI and stochastics are rising.
A buy signal would be given on a break
above yesterday's intraday high of 57.43, with resistance after a break
coming at 64, 69.4, and 74.8. Support is at 51.1 and 46-47.8.
