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Technology Stocks : Newbridge Networks

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To: Sans Souci who wrote (2647)	1/6/1998 2:33:00 PM
From: nick cash	Read Replies (2) of 18016

agreed, though would like to have seen more volume yesterday. still can't overlook the size of the move, the taking out of the previous bounce high and the strong close at the days high. we are getting good volume today with great relative strength on a down day which, imo, confirms yesterday's move unless we fall apart at the end of the day here (unlikely). should have a small bit of resist here @ 39. the real resist is at 42-the previous key support level that was breached late last year. whether it can positively test that level and then break thru it will show whether this is a dead cat or the real thing (if it does break thru 42 down the line, the move should be quick to 49). confirmed uptrend (ie...out of the woods) would be a break above 49. obviously this isn't all going to happen at once----they drop faster than they go up. overall market has to cooperate too of course. back to work.......... all imo only....nick

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