Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.645

0.0%

Dec 24 12:59 PM EST

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To: David Hansen who wrote (20242)	6/7/2002 4:50:59 PM
From: sylvester80	Read Replies (1) of 21876

I think this recent move down may be also technical in nature. I just did a 1 year day chart on Lucent and this current move down is part of the last 5th Elliott wave that started at the double top at 8.7 some 6 months ago. The waves fit perfectly in the down trend channel and this being the 5th one is always the ugliest. The intersection looks to be in the 2.4 area (+/- .1) as early as Monday. We should get a violent upward move from there considering that we are severely oversold on top of completing the 5th wave which should get us a nice V spike. I will be deploying major amount of cash next week. JMHO.

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