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Technology Stocks : Finisar - FNSR
FNSR 23.770.0%Sep 24 5:00 PM EST
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To: D. K. G. who started this subject9/12/2000 3:11:43 PM
From: Marc  Read Replies (1) of 509
 
From Thompson
FNSR -- Netwrk & Comm Dvcs -- Technology
12-Sep-00 14:55:50 Finisar is in the latter stages of forming a bullish cup with handle formation.
A cup with handle is formed when a stock rises to a peak, declines into a basing pattern,
moves back up to form a second peak, and then drifts lower to form the handle. The pattern is
completed when the stock breaks the second peak on at least a 50% jump in volume. FNSR
climbed to a peak of $61 187/256 in late March, declined and traded sideways from over the
next several months, then formed a second peak at $48 1/2 in late August. The stock is
currently forming the handle portion of the pattern. FNSR is trading up $1 5/16 to $44 7/8 on
strong volume of 2.5 million shares compared to its daily average of 2.3 million shares. Block
trades account for an abnormally strong 88% of the total volume compared to an average of
roughly 40%, which suggests that institutions are very active in today's session. I-Watch’s
post-trade data shows that one institutional broker accounts for 72% of the total volume,
indicating that the broker was working on behalf of a single institutional player. Should FNSR
challenge its “pivot point” at $48 1/2, look for volume to show a 50% (at least) jump in volume to
suggest the breakout has some legs.
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