12/22/99 Verio Inc (VRIO)
Points to watch:
A short term trade. Verio has
backed off from its early December highs and yesterday tested support at
46, last Wednesday's lows, before moving up in the afternoon to close at
47.5.
Short term technical indicators remain
negative: daily RSI showed negative divergence with price at the early
December high and is in a downtrend, and stochastics is also moving lower,
while OBV has begun to turn down.
A short term sell short signal would be
given on a breakdown below the support at 46, with a quick move to support
at 42-42.25 then likely. The 42-42.25 level has provided support on
7/19, 8/24, and 11/15-19. Additional downside support exists at 38
and 35.1.
