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10/15/98 Gateway (GTW) Points to watch: A head and shoulders pattern has formed on the daily chart of Gateway. 200 day moving average at 48.12 is providing overhead resistance. OBV continues to weaken. Daily and weekly MACD in downtrend. RSI showed negative divergence on head (peak) of pattern. Gann 2x1 angle at 43 1/4 and 62% Fibonacci retracement level at 41.82 providing support. Short stock on move below these 2 support levels. Place stop slightly above 200 day moving average. |
