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Technology Stocks : ADTRAN !?!
ADTN 8.800-0.3%Jan 9 9:30 AM EST
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To: TelecosmFan who wrote (545)10/8/1997 11:50:00 PM
From: David Pawlak   of 766
 
I bought yesterday at 43 1/8. It had a very nice flag formation and over the last few days, the lows of the day were getting higher and higher. 44 was the most recent high and I felt if it hurdled that, we would see a nice leg up to the upper 40's and possibly the lower 50's (the 52 week high).

Typically, when a stock breaks a level it has been fighting with for a while (44), it usually breaks that level with a certain amount of conviction, hence the heavy volume at the end of the day when it happened. The longer it has been struggling to break that level (7 weeks), the greater potential the breakout has.

As far as the volume...

28 minutes before the close, 383k were traded.
10 minutes before the close, 5425k were traded.
At the close, 904k were traded.

So, I don't see where only 35k moved the stock.

I've traded this stock 4 times this year based on TA and have made impressive returns each time in a matter of days. I don't believe this time will be an exception.

Best of luck!
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