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1/13/99
Documentum Inc (DCTM)
Points to watch: Documentum closed Tuesday just
above important Fibonacci support at 40 (the 38% retracement of the October-December
rally) and Gann support at 40.31. The stock has fallen below its 200 day
moving average (44.81) and 55 day moving average (42.37). DCTM's late December rally
was stopped by resistance at 54. This level also stopped rally attempts last June and
July. Daily stochastics and MACD have given sell signals. Daily RSI and CCI
are in decline. Short on a breakout below 40, placing a stop between 43.33 (the 62%
retrace of the April-October decline) and 44.99 (the 25% retrace of the October-December
rally) depending on your risk tolerance level.
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Last modified: April 02, 2001
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