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Technology Stocks : Ascend Communications (ASND)
ASND 200.28-1.0%Dec 3 3:59 PM EST
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To: Tavros who wrote (20372)11/1/1997 2:09:00 PM
From: Ms. X  Read Replies (2) of 61433
 
Tavros,
It seems as if Style pts can give you a better fundamental look at Ascend. I look at the technicals which tells me when to buy and when to sell. Right now is not the time to buy Ascend based on technicals. Based on P&F analysis the stock created another sell signal when it reached a price of 26 as well as creating a new low. If the stock holds here and moves to 31, this would be the first P&F buy signal. (one buy signal would not convince me, I would wait for a positive trend, but that is me) However, the sector is still weak and Ascend itself has a weak relative strength. I did a vertical count which suggested with the current downside momentum (whether created by the market or Ascend) the stock could move below 20. Now, if the market changes its current mood and the sector reverses up, this may not happen but it is what is being told in the charts at this point. My suggestion is to wait for the market and sector to firm and for Ascend to show some sign of life. This will not get you in at the "bottom" but it will give you a better chance of success. If a fundamentalist tells you this is a solid stock to buy, wait for the technicals to confirm the buy-in point.
Good Luck to you.
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