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Technology Stocks : Ascend Communications (ASND)
ASND 208.27-2.4%12:40 PM EST
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To: Randall Stern who wrote (14523)9/26/1997 10:35:00 AM
From: Andie Wei-Ku Lin   of 61433
 
The entire technology sector has been sluggish as of late, with
a downside bias. The cause of this is a combination of an unstable
bond market, earnings jitters - poor earnings by MU and others, and
the Intel FTC investigation. End of quarter selling and portfolio
repositioning is also playing a role.

However, regarding Ascend, there is near-term support at 36 1/2,
which is the 100SMA on an ITD 30min chart. There is resistance
at 38, which is the 20SMA on a daily chart. Near-term, the
upside momentum is waning...this does not imply that a dramatic
downturn will occur, only that further significant upside moves
will be more difficult and require greater impetus - i.e.
upgrades, news, etc.
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