The New QLogic (ANCR) Message Board

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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: nic who wrote (12662)	11/26/1997 5:36:00 PM
From: Eleder2020	Read Replies (1) of 29386

>>anybody wager a guess for the second bottom? My bet is on 51/2...<< According to someone who vigorously charts ANCR this seems to be the second part of a double bottom, with the first bottom being established in Feb/97. According to this particular technician It is sitting on the upper end of the bottom, on low volume which she says can't really get her any kind of confirmation where the bottom will be.Would like to see holding this range on increasing volume and see the Bollinger Bands continue to narrow.She could then get a sense on whether we are headed in the same direction or headed for a reversal.Hard for her to analyze until we see increasing volume. She weighs gaps somewhat lightly on her scale but said that a pretty good gap in volume between 7 and 8 and did say it is remarkable how often these gaps get filled though it sometimes takes years. I suggested there was an even better gap between 20 and 40 at which point she commented that it wasn't a gap but the grand canyon and she discounts it as a speculative bubble that was generated by many of these stocks a few years ago. Said she would call again when we get closer to establishing the bottom. Enough second hand rambling so.... Have a great Thanksgiving everyone. Ed

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