CCSC - Coherent Communications Message Board

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Technology Stocks : CCSC - Coherent Communications

CCSC 5.170

+0.4%

Apr 20 5:00 PM EST

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To: Todd D. Wiener who wrote (226)	7/31/1997 1:12:00 AM
From: Todd D. Wiener	of 381

CCSC falls through 50-day MA, down toward $21. It certainly should bounce off of its 200-day MA, since there's nothing wrong with the company. Normally, if everything's okay, the stock will be supported by its 200-day MA. At $21, CCSC will have corrected 20% from its highs, and will be trading at a FY1997 PE of 24. Since CCSC obviously has again failed to break the resistance at $26, it might settle into a trading range between $21 and $26 for the next few months. CCSC needs to start beating the EPS estimates, or else it may not gather much momentum. Todd

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