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Technology Stocks : NEXTEL
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To: PMylnar who wrote (5190)3/17/1998 2:39:00 PM
From: Ken Benes  Read Replies (1) of 10227
 
You do not very often see a more constructive chart pattern than the current nxtl chart. Nor do you see a more constructive tick by tick pattern than the one exhibited by nxtl this past week.
Nextel is moving up in a very deliberate way suggesting that there are many more buyers than sellers. It appears, that a lot of money is sitting on the sidelines waiting to jump in on any weakness. The weakness is not appearing, and the buyers are continually paying up for the stock.
There is another group of investors who think in much the same way as Ed Pittman. Those investors are waiting for the breakout above 32 to confirm the move. The breakout should correspond to some very positive news. When this money moves into nextel, it is going to be bye bye.

Ken
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