TIME WARNER INC (TWX-NYSE): Technical Viewpoint: From a high of $57 1/2 on Jan 13, 1999 prices declined, reaching a low of $67.06 on Jan 20, 1999. A rally saw prices pull back, reaching a high of $58 5/8 on Feb 10, 1999. Another decline saw prices penetrate support, closing 2/16/99 at $63 1/2. Technicals: Demand Index (DI): A Sell Alert! was given on Feb 16, 1999 when the solid line crossed the dotted line to the upside. Support: Remains at $59.00. Resistance: Is at $64.00. Point & Figure: Reversed to the downside on Feb 11, 1999. A P&F downside reversal takes place at $60.00. Summary: Technical indicators have turned bearish. SELL! TIME WARNER INC (TWX-NYSE) @ $63 7/8 Stop: Use a protective stop of $61 3/8. TIME WARNER INC is currently trading @ $63 1/2 minus $2 3/8 on Feb 16, 1999. Price Objective: $80 1/2. Risk/Reward: $2 1/2 VS. $16 5/8. Today's Risk Reward Ratio: 6:1