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Technology Stocks : JDS Uniphase (JDSU)
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To: Tunica Albuginea who wrote (19462)3/14/2001 6:54:21 PM
From: puborectalis  Read Replies (2) of 24042
 
Decline in JDS Uniphase Stock May Not Be Over Yet

By Yola Edwards (yedwards@stockhouse.com)
Wednesday, March 14

JDS Uniphase [JDSU] [T.JDU] shares rallied in Tuesday's session in unison with
other tech stocks, but the stock could decline another 17% before it is able to
stabilize and achieve any meaningful rally.

Both the rally in JDS and the Nasdaq's [$COMPQ] 91-point advance in Tuesday's
session appear to be more of a short covering rally than the beginning of a
sustained market advance. It is likely that the market may rally over the next few
days, alleviating the drastically oversold conditions depicted on the technical
charts, but investors should be patient and wait for the next wave of selling before
adding to portfolios.

Technically, JDS's shares are trading below the 10-day moving average and
although the stochastic indicator suggests the stock is extremely oversold, it
appears JDS's share-price is headed to the lower envelope band and Bollinger
band both measuring to approximately US$19 (C$30). JDS has traced out a huge
"M" formation, which is near completion. At US$19 (C$30), JDS will have virtually
given up all of its gains over the past 18 months and could likely present a new
opportunity.

As it appears that we may be closer to a bottom for both the Nasdaq and shares
of JDS, investors who have ridden the decline in the market over the past 6-1/2
months should be looking to add to positions after the next wave of selling. The
ancient warning, "Beware the Ides of March," may yet hold true.
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