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Technology Stocks : Ascend Communications (ASND)
ASND 207.87+1.2%3:07 PM EST
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To: Nick Elkherj who wrote (16318)10/4/1997 11:49:00 AM
From: Nazbuster   of 61433
 
I don't agree on the range... I think the public has short memories and a gambling mentality based on hope and greed. There will be tremendous resistance all the way to higher prices because of the huge volume of trades at these bargains. Once earnings are announced, the forward-looking begins, and the analysts projections of 40's, 50's and beyond will be the word of the day. (They have to make their profits on all these buys.) The stock will do a slow, painful creep upwards.

My guess:
OCT 34
NOV 38
DEC 35 (Profit taking, tax losses)

After January, I think it will accellerate upwards (with resistance points).

For the near future, ASCEND will range between 25...30 until the next earnings announcement.
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