Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 220.42

+4.9%

Dec 12 9:30 AM EST

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To: Brad Rogers who wrote (12755)	9/15/1997 3:28:00 PM
From: vegetarian	of 61433

Significance of closing down on the highest volume implies that the selling is not probably not done yet. Actually to draw a good conclusion you should look at an intraday chart. If it kept going down and consolidated as ASND did, it implies that the sell off not complete and more sellers possibly waiting to sell off on a bounce and buyers not buying yet in anticipation of further decline. If it is a reversal day, you will see some sort of U shape for intraday, that is starts at a high price, goes down (possibly on a good volume but not necessary) and then closes back up; how much up it closes will indicate how much buying has been done as against selling (if it closes positively it is better, should indicate some recovery; does not mean price will go up because it will meet resistance going up but a good possibility that it will not go down significantly from there).

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