Obviously anything is possible in the stock market, but I will go on record as saying that I believe there is less than a 5% chance of ASND breaking below 29 - 30 mega support level. I can't see this, UNLESS ASND in December announces another really bad earnings preannoucement.
Having said that, I believe ASND is very much bottomed out (based) and should slowly rally above. The first real test of resistence should be 39-40 area.
For those who dream to buy some ASND in the 20's, keep on dreaming.
Even at this price level, I think there are DEFINITE plans to buyout ASND. (I'm not starting a rumor. I have NO confirmed facts. Just my suspicion that ASND is extremely cheap and perfect to be taken over by, say CSCO.) In the unlikely 5% chance ASND breaks $29 and falls into the low-mid 20's, I can almost promise you ASND will be purchased.
The risk to reward ratio at this price level is very generously baised towards the reward side. There is very little risk in investing at this price level and lot of overhead room for reward.
For the shorters who shorted above $40 and $50. Congrates on your fortuitous predictions. You've certainly been rewarded. For those who are trying to short it now at the $33 level, don't even bother. The risk to reward ratio is so low it's not even worth discussing it. $32 is good support, 29-30 is MEGA support. You certainly won't be getting much downside to the price movement.
I will close this message by saying again, I think ASND is being considered by MANY companies as a takeover target RIGHT NOW! Mory may not know about it yet, but plans are being made! Only time will tell.
Andy
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Rumors starting to fly. WCOM, LU and now HWP to buy ASND. I think ASND will
begin to use LU chips instead of ROC after the ITU standard is set and eventually be
bought by LU. ASND has great products, strong established base, but maybe a little
muscle would help. What do you think?>>>> |
