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Technology Stocks : Ascend Communications (ASND)
ASND 220.58+5.0%Dec 12 3:59 PM EST
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To: wolfgangl who wrote (7452)7/27/1997 10:05:00 PM
From: Narotham Reddy   of 61433
 
ASND TA Analysis

July 25, 1997

Long Term Outlook: The long term trend is up. ADX levels are declining, suggesting a choppy market ahead. Stochastics and %R are somewhat oversold, but have room to move lower. On balance the market looks bearish here.

Short Term Outlook: The short term trend is up. Stochastics and %R are somewhat oversold, but have room to move lower. On balance the market looks bearish here. Looking exclusively at Stochastics: The short term trend looks a little toppy.

The fact that we've had three down bars of SlowK and we're trading in a high area of the stochastic is a little bearish short term. A possible short term down move may occur.

Fundamental Outlook: (NOTE: The commentary here is relevant to the last bar only.) Earnings have shown phenomenal growth over the past 3 years. And, the company has continued to report exceptionally strong earnings increases over the past year. Further, most shares of this company are held by institutional investors. While this reflects a high degree of confidence in the company's prospects by professional investors, the shares are more subject to high volatility associated with program trading. In addition, some investor's would view this as bearish, since it reflects a company which is widely followed and already very efficiently priced. A low ratio of Beta Up to Beta Down indicates a tendency for this stock to participate in bearish market moves more than in upside moves.

Important: This commentary is is not designed to provide any investment or other professional advice.
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