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2/10/99 Deutsche Telekom (DT)
Points to watch: DT has fallen below its
21 day moving average (41.99) for the first time since November 20th. On Tuesday the
stock closed at support at 40.5, a level which also acted as support in late January and
as resistance in early January. A double top is forming on DT's daily chart with
peaks on January 20th and February 1st. The top formation would be confirmed by a
break below 40.5. RSI showed strong negative divergence with price on the 2/1/99
top. MACD gave a sell signal on 2/2/99. OBV and stochastics both turned down
sharply in January. Additional downside support exists at 38.75. Sell, or
short on a break below this support level for a downside target of 30-30.5.
