Ascend Communications (ASND) Message Board

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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: KellyW who wrote (13970)	9/22/1997 3:55:00 PM
From: vegetarian	of 61433

I see some folks have sold ASND today, wonder why that has been a good thing to do. Logically: -If we look at the prices over past few trading days, ASND has gone up and today also has been an up day. If the stock keeps going up why would one want to sell? -If we look at today's Intraday chart, it has formed an ascending triangle which is a bullish formation, but it has not been able to penetrate supply at 37.8, it may or may not eventually do that but we don't know yet. Also bullish formations are not nice sell points. SO what might be a good selling (or shorting) strategy? -Wait for the updays to be done (look for a down close) -Intraday check when it hits a resistance and starts a downward move unlike today's move (starts making bearish formation) Some other things that I beleive: -ASND will not be able to penetrate its 40 resistance until earnings are out which is still about 3-4 weeks out -ASND will start moving down once it hits either 38, 39, or 40, which one I don't know that is why I am waiting -Sell ASND if it hits near 40 or after COMS earnings are out whichever is earlier, selling ASND at 40 will not entail much risk.

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