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12/27/98 Xircom Inc (XIRC) Points to watch: A double top is forming on Xircom's daily chart. The second top is forming on weak volume. The rally to the second top was stopped by Gann 1x1 resistance at 35.5. The 1x1 angle has marked the top of 4 other major up swings in 1998. XIRC closed Thursday just above Gann 2x1 support at 32.6. Divergences were shown on the second peak by OBV, RSI, and stochastics. Stochastics has given a sell signal. The Gann 2x1 at 32.6 and the 25% retracement level at 31.1 form support. Sell, or short, on a break below these support levels. |
