CCSC - Coherent Communications Message Board

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Technology Stocks : CCSC - Coherent Communications

CCSC 5.170

+0.4%

Apr 20 5:00 PM EST

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To: Maya who wrote (295)	10/28/1997 9:12:00 PM
From: Todd D. Wiener	Read Replies (1) of 381

Damn impressive showing by ol' CCSC! It rebounded 18% from its lows to close 3% higher than last Friday's close! Also, Stringfellow upped CCSC to STRONG BUY from BUY, and added it to its recommended list. Recall that the $26 mark is the previous resistance point that was finally overcome one month ago during the breakout. The confirmation of this new support level, especially in the midst of this market madness, is very positive technically for CCSC. On top of that, the buying volume was huge this afternoon. Another nice thing is that CCSC, at its low, had a trailing P/E of 32, in line with its expected growth rate. Many stocks were taken to very low valuations, but CCSC held up nicely. Now that it has tested its support it is poised for an advance. I wouldn't be surprised if it tested the support level again, though. Todd

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