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| 6/24/99 Concentric Network (CNCX)
Points to watch: CNCX closed above resistance at 36 3/4 yesterday, confirming a short term double bottom. The stock finished the day at 37 3/4, even with its 55 day moving average (the stock fell beneath the 55 day M.A. on May 24th after breaking above last December 17th), and above the 38% retracement of its April 13th- June 15th decline (37 3/8). RSI gave a buy in early June and is now in a solid uptrend at 63. Overhead resistance exists at 38.31, the 50% retrace of CNCX's October 8th-April 13th rally. A short term buy signal would be given on a break above the resistance at 38.31.
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