Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 199.62

-1.4%

3:38 PM EST

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To: Scott Rafe who wrote (11824)	9/11/1997 11:15:00 PM
From: Pullin-GS	of 61433

Here are some of my TA interpretations of ASND. ASND has been in a freefall for the last 5 weeks or so. The trend is your freind. Many have tried to catch this falling knife at the 4 support levels ASND has breached thus far and have lost money doing so. Why would the current support of 37 hold when the others have failed? I wish I knew. FTR I have entered ASND based on what I percieve a short-term value play. I will re-evaluate my holding at each resistance level, looking for reasons to stay. If I find none, I exit. Lots of selling pressure the last 2 days with massive increasing volume. I am hesitant to say that this downward momentum is finnished until the volume feeding it subsides. I think today was an all time low for many investors in ASND and alot of the selling were shares being shook from loose hands due to bad press and low price. I don't see much overhead holding back ASND from breaking resistance at 40. Not many shares were traded in the range of 37.5 to 40 in the past 18 months or so since we last saw 37 and lower on a regular basis. Once 40 resistance is trading, approximatly 21 MM shares need to exchange hands to breach 40. Some resistance is at 42 1/5. Stronger resistance is at 45 3/8. Bollingar Bands say we could se 35, and then a bounce to 45 before major resistance is felt, supporting basic chart read. We had a bullish Ultimate Oscillator divergence from price today on close sugesting a reversal. The last 3 times this has happened have not been followed through with a reversal though. We recently had a Smothed Rate-of-Change reversal, indicating a price reversal is due. Stochastics have been crossed every day for the last week below 15 (Bullish). Bostian Acumulation/Distribution spread wide and bearish since our last high 55 day (August 5). MACD does'nt have much to say. RSI sucks bad (34 1/4 and dropping like a rock). Candlesticks have nothing to say.

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