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Technology Stocks : Ascend Communications (ASND)
ASND 202.96-2.8%Jan 9 9:30 AM EST
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To: sepku who wrote (9405)8/21/1997 1:17:00 AM
From: WBendus   of 61433
 
The longer term techinical picture (not 5 min bars)<g> of ASND is forming a wedge. These are consolidation patterns and typically provide a launching pad for stock prices to move from, either up or down in the direction of the prevailing trend. For ASND, that prevailing trend has a downward bias for this pattern. This pattern is not fully developed yet, but is forming nicely. If this pattern has a bullish outcome, then it could mean a $75 stock within 2 months of a break out. If this pattern has a bearish outcome, then it could mean a $20 to $25 stock within 2 months of a breakout.

I will try to find more time later to comment more fully on the technical picture of ASND before Fridays close. After this week, my contributions to SI will slow considerably as it will be time to trudge off to Syracuse University, where I am transfering to finish a BA degree in Finance and begin graduate work.

Wayde.
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