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Technology Stocks : Ascend Communications (ASND)
ASND 206.76+0.6%1:32 PM EST
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To: Finder who wrote (37789)3/5/1998 3:04:00 PM
From: Gary Korn  Read Replies (2) of 61433
 
MONTEREY, CALIF (March 5) BUSINESS WIRE -March 5, 1998--Day Traders On-Line (www.daytraders.com) said Thursday that their Trading Desk editor initiated coverage of 3Com Corp. with a buy rating and set a near term price target of $40 to $42 a share. -- Networking sector has limited exposure to computer and hardware pricing pressures recently seen in market. -- Continued network expansion in Internet and Intranets should continue to improve 3Com's profitability throughout the year, as well as other networking equipment suppliers such as Ascend Communications (NASDAQ:ASND) and Bay Networks (NYSE:BAY). -- Stock has recently put in "double bottom" at $28 a share level and has now started an up trend which may continue into the $40 or higher range. Attractive from a technical standpoint. -- Near term price target set at $40 to $42 based on chart and company fundamentals. Day Traders would consider 3Com Corp. an attractive buying opportunity at current levels of $36 a share or less (if seen) and would expect continued positive momentum over the next few months to higher levels. For further information on this and other short-to- medium term trading and investing ideas, please visit the company's website at daytraders.com or send e-mail to: info@daytraders.com. -0- ahc/sf* CONTACT: Day Traders On-Line, Pacific Grove, Calif. Ray Johns, 408/649-4545 info@daytraders.com daytraders.com
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