Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 212.01

-0.6%

3:59 PM EST

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To: Chris Stovin who wrote (11831)	9/11/1997 10:50:00 PM
From: Kevin Kessel	of 61433

My 2cents: Ascend took quite a beating today. We gapped down past our 38 support and almost past the stong support at 36 1/4. Just when it looked like ASND would make a run at the end of the day, the sellers appeared and sold into the strength. (ALL)DO YOURSELF A FAVOR. Do not buy ascend at this time if you are looking for a short term price increase. You will be making a mistake. If you are buying for the short or long-term wait for it to break 40 with strong volume. I don't believe this will happen tomorrow, or even next week. 40 has now turned into our resistence level. I believe it will have a hard time clearing it near-term. Until then stay on the sidelines. Watch it closely. There is NO REASON why it can't hit the low 30's or high 20's. Anybody who feels this is impossible is just fooling themselves. Of course, it could also base here for a while and then slowly inch its way up. I don't believe this will happen until earnings are either out or Ascend pre-announces something. Right now, that is what the uncertainty is all about. A big downward disappoint would send this stock for a tail spin. We haven't seen anything yet. The funds would dump, the momentum players would all leave. Don't get me wrong--I like ASND. But right now, it is better to stay put. Kevin

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