Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 207.04

+0.7%

Dec 8 3:59 PM EST

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To: Jeffery E. Forrest who wrote (41806)	4/1/1998 9:19:00 AM
From: Jeff Jordan	of 61433

That said, look at a chart for a moment. We had a run from 30 to almost 39 in a WEEK. Thats almost a 30% move. To expect MORE upward movement wihout a bit of a rest is "Ascend Folly". A move back to 35 would do several things. It would fill the gap. It would be an approx. 50% retracement which is healthy for a stock on a bull run. It would test the 200 and 20 Day MA's. A test of that area would strengthen things considerably in preparation for an assault on the $40-50 range Sounds reasonable to me.<g> Wild things happen on Fridays in this stock. Looks like a nice week forming for the market. Buyout rumors seem to be strengthening if that's an indicator. Jeff

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