Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 208.86

+2.9%

3:59 PM EST

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To: Harry Ehrlich who wrote (13727)	9/20/1997 11:36:00 AM
From: Ben Tang	of 61433

Harry, I felt ASND had reversal based on one assumption that ASND would close above 36 Friday, which I thought there was a great possibility given the three ups which had not happened on ASND for a few months. On option expiration, strange thing could happen. Indeed, there were strong hands tried to pull ASND down. Fortunately ASND nicely recovered. Now look at the daily chart, there is some possibility of a reversal of our small uptrends of the last four days. But given the strength near Friday close, we may break through 36 on Monday. Then we can test 40. On the downside, should we retreat, I think we could go to an intraday low of around 33 1/2, barring bad news. Looking at the weekly chart, we have got a hammer indicating a strong possibility of a reversal. It again points to a test of 40. Looking at ASND's past, this happened every time. So near term it looks good and long term no doubt it is a great buy---buy when fear and blood is on the street! Thus, I would not bet money on the short side at this time. Ben

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