05/25/00 CMGI Inc (CMGI)
Points to watch:
CMGI has tumbled 68.5% from its January
3rd all-time high of 163.50 and is likely to retest its August 1999 lows
in the coming weeks.
The stock gained 1.12 yesterday to close
at 51.50--the second straight day it has tested and closed above its April
low of 49.38. The stock tested long term support at 45.75-46.50
intraday, a level which provided support last October and acted as
resistance during August 1999-September 1999.
Short and long term technicals remain
negative. Weekly RSI and stochastics are at new lows, but oversold.
Daily RSI has turned down, and daily stochastics is at a new low but
oversold.
A sell short signal would be given if
the stock retests, and fails to hold, yesterday's low of 45.88.
Downside support after a break would be at 39.4, 36, and 32.5-33 (the 8/99
lows). Resistance is at 58 and 63.
