Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 212.00

-0.6%

3:59 PM EST

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To: James who wrote (11649)	9/11/1997 2:30:00 PM
From: vegetarian	of 61433

Technical Analysis of ASND Chart-I know most people on this thread are not going to like it but this is what it says (hey! I don't create those charts). If ASND closes in the 37 range for the day today, its chart that had formed a symmetric triangle/descending triangle (take your pick, they are too close to call) has decisively broken on the down side on a huge volume, very bearish indeed. The lower triangle line will act as a resistance and there probably will be a pull back to the resistance line (39-40 range) sometime in the next week or so (option expiration?). This is not to say that it will not go down further before attempting to pull back. ASND is a SHORT candidate when it pulls back to the resistance line from where it should go down nicely adding money in your pocket. This is what the TA theory indicates and any rational comments (flames >> /dev/null) will be appreciated.

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