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1/9/99 Cybershop
Int'l (CYSP)
Points to watch: Cybershop
continued its decline this week and has fallen below its 55 day moving average (12.43) for
the first time since late October. The stock tested and held critical Gann support t
10.25 on 3 occasions this week. Technical indicators continue to weaken, suggesting
the stock may be unable to hold this level in the coming week. The 21 day moving
average has crossed below the 34 day moving average. The MACD signal line has
crossed below 0 giving a sell signal. OBV has turned down, and MACD, RSI and
stochastics remain in steep downtrends. Short, or sell, on a break below 10.
Weak overhead resistance exists from 12.25-13.2 (the 62% retracement of the stock's
October-November rally).
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Last modified: April 02, 2001
Published By Tulips and Bears
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