DCH Technology

THE ASTROLOGERS FUND Inc.

"Naturally A Stellar Performance"
370 Lexington Avenue, Suite 416 New York, New York 10017
212/949-7211 FAX 212/949-7274 info@afund.com

DCH TECHNOLOGY

We are here posting our on going analysis of our client, DCH Technology. © The Astrologers Fund, Inc. Last Updated:
CORPORATE DATA:
First Trade: May 28, 1997? (Data not fully verified)
Incorporation: February 23, 1996 10 am Denver Colorado
Key Date: May 27, 1997 became a public company through a reverse merger.
Headquarters: Valencia, California
Birth data of Principals:
David P Haberman Chairman of the Board: November 08, 1960 2: 29 am New York, NY
David A. Walker President: November 14, 1957 1:19 am Santa Monica, CA
Web site: http://dcht.com
Investor Relations: IR FAQ Email Investor Relations Phone: 888-HYDROGN EXT 11

COUNTDOWN to February 1: DAY 20
[1/10] Looks like everyone is counting as DCHT traded its all time record volume of more than 2 1/2 million shares!

[1/7] Yesterday DCHT stock closed at $4 bid starting a 20 day countdown (February 1) needed for Nasdaq small cap qualification.
We forecast that Fuel Cell technology will be an increasingly hot sector in 2000-2004.
DCHT in our opinion is the best of the public companies dedicated to a hydrogen future.
This is my opinion despite the fact they are my client and I own lots of stock. :)
See Astro-technicals below.

Note: this article is "in progress''; there will likely be an update soon.

UPDATE #3
HYDROGEN/SOLAR ENERGY ARE 21ST CENTURY FUELS

Investors: The 21st century has begun! Within a few years, hydrogen and solar energy will recognized not as "alternate energy" but "successor" energy.
In 2000, there will be numerous successor energy conferences, each facilitating serious press coverage for DCHT.
We forecast DCHT will not only dominate the hydrogen sensor industry, but DCHT fuel cells will be a dominant supplier in the portable "Premium Power" market where price is not an object e.g. hospitals, military and remote village sites (arctic, desert etc.)

COMPANY PROGRESS:
[12/28] Company issued a press release today and that it has added a second production
and test facility to its Wisconsin fuel cell operations. This is the second expansion of the division and will include the addition of on-site hydrogen production capability.

DCHT also stated that it will join the US Fuel Cell Council in order to participate in the development of codes and standards necessary for the commercial, large-scale deployment of fuel cell power systems.

The company is on target with more key test orders on the fuel cell side and strategic placement on the hydrogen sensor side making DCHT the defacto standard. In addition, new safety applications such as in water treatment are being developed. We believe the company is currently under-estimating the sensor side as worth $100 million; we estimate more at least $350 million.

AstroTechnicals: DCHT Stock Price or Detailed Stock Price

[1/10] Wow! Today we reached our 2000 target of $10. Thereafter a retracement followed. Almost anything is possible, but we believe 5 and 6 are now primary and secondary support while 8 and 10 are P1 and P2 resistance. However, this is a highly fluid situation and either news or Internet crazies who are migrating to trade the hot successor energy sector cf: Ballard, DCHT, Manhattan Scientifics and Plug Power could up the ante considerably.

[1/7] We closed yesterday with a bid for $4.00. Today DCHT stock reached $5.00. This is day 2 of a 20 day countdown to probable Nasdaq qualification. Next trading target is $8 (circa all time high) with 4 new support and 5 its trading pivot.

[12/28]. Today DCHT is flirting for the second day with $4. Obviously this can be a big fight zone and is a key stock pivot. The stock currently has minor support at 3.84, major support at 3.50 [to be replaced by 4 in January?] and secondary support at 3. We are projecting $5 before February as it looks very likely that DCHT could be on Nasdaq shortly before or after their January 28th annual meeting.
We continue to recommend DCHT as a strong buy with a new 6-12 month target of $8 to $10.

Todate we have seen the first 400% trading profits, what is next?
We see $1.25 to $1.50 becoming trader BUY points and no longer the SELL areas it was after its first 400% trading move. Thereafter, what barriers to the next 400%?
These are the two key resistance points of $2 and $5.
$2 can easily be held and straddled with good investor relations and communication. Depending on the buying and selling here, it could retrace to $1.50 which would then be very strong support, or take out $2.15 onto $3 or $4 as this is recognized by intermediate term traders as a January stock play par excellence.
For $5 to be reached AND held, will take either Nasdaq small cap and/or MAJOR news and progress.

Astrologically and seasonally, DCHT is a January cap stock.
It will not be affected by any Y2K worries nor December tax loss selling due to recent stock buying. We foresee strong sailing into February.
Currently we are forecasting a price target of $5-$8 within the February to July 2000 time frame.

STOCK REPORTS
For another view, see Ram Capital Management's November 23rd DCH Technology stock report.

Q & A

READER: Could you please give readers a very brief history of DCH and why the share price came down from over 4.00?
HW: For a brief history, visit the DCHTWeb site. Its stock went from 50 cents to $8, then gyrated a few months and then fell back to .75 last year. I would speculate DCHT stock ran WAY ahead of itself and that investors sitting with 1000% profits within 2 months sold big time.

READER: February you mentioned more good news for DCH - do you think they will go up again to 1.50?
HW: My initial trading target for DCHT was $1.25 to $1.50 by December and $2 by February. It is also possible (and now my latest view) that it could rise to as much as $5-8 between February to August. Whether true or not remains to be seen. The main trading issue is that if I were trading DCHT stock, I would now be a buyer in the $1.25 to $1.50 zone, and not a seller, as was previously technically correct.

READER: It should be interesting to see if DCHT goes to 2 or 1.50 first this time.
HW: To me it is more interesting whether it reaches 2 in December or January and how long it will take to get to 4. You may wish to read Ram Capital Management's December 17 DCHT Report- it makes a strong case for a $10 stock price in 2000.

First DCHT Post: First Impressions
Second DCHT Post: 2000 is the Year of Hydrogen

Disclaimer: The Astrologers Fund Inc., its director, employees and its clients maintain positions in this stock. In addition, DCH Technology is a corporate client and advertiser on our web site. While we usually do not actively trade DCHT stock as it is an intermediate term hold for us, it is of obvious benefit to us when others buy its stock. Always do your own research and check with your licensed financial advisor or broker before buying or selling on the recommendations of the Astrologers Fund, Inc.

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