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Technology Stocks : PWAV- the hot new IPO -- Ignore unavailable to you. Want to Upgrade?

To: Paul Haynes who wrote (981)	3/11/1998 12:33:00 AM
From: JRobinson	Read Replies (2) \| Respond to of 1491

PWAV is at a critical point technically. It had been forming an inverse head and shoulders, which is a very bullish pattern...when the breakout comes through the neckline (around 20) and is sustained. This didn't happen here... but still can. However a break below near term support at about 12.5 would not be a good thing. PWAV is resting at it's 50 day MA and I wouldn't mind seeing this hold on a volume dryup. We could then expect (!?)an attempt at the neckline again. A bunch of overhead resistance is in store after this happens though.