SHORT UPDATE 03/05/00
RealNetworks - RNWK $70.19 (-8.19)
Unfortunately, RNWK managed to gain ground Friday with the rest of
the sector. RNWK started the session Friday with a steep pullback
before making a strong recovery rally. This stock is still trading
below its 50-dma of $75.60, which helps show its readings are
still bearish. Friday, proved to be a day almost no Tech stock
could lose on, unless your name is Palm, and your trading 3 times
above where you should be, but then again isn't every Tech. RNWK
set a good resistance at its 5-dma of $72 on Friday, which it
managed to bounce off twice, before ending below at $70.19. RNWK
looks great on another bounce off this level, but if it breaks $69
we could see it back down at Friday's low of $65, which could
prove to be a good play on speculation of a support break through.
If RNWK gets swept away with the Market again, look to exit if
it goes above its 10-dma at $76.50, we should however, see some
resistance at its 50-dma of $75.60 first. It's hard to play a
short position in this Market, so to be on the safe side always
have your stops set.
Picked on Feb 29th at $70.31
Change since picked -0.12
Earnings Date 04/25 (Not Confirmed)
OPTOIONINVESTOR |
