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Technology Stocks : Newbridge Networks
NN 15.87+2.5%Dec 5 9:30 AM EST
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To: Glenn McDougall who wrote (3916)3/29/1998 10:04:00 AM
From: Brett Nelson  Read Replies (1) of 18016
 
Glenn - IMHO something is brewing at NN. Since the gap opening on 3/12, daily volume has steadily decreased, each day being somewhat lower than the previous. Moreover, the stock's volatility (based on the daily trading range) has declined as well. In technical analysis parlance, such a "range contraction" on declining volume is often construed as the market tipping its hand that a big move (i.e. "range expansion") is approaching. Unfortunately, the technicals don't necessarily suggest a direction for said move, only that one is likely to occur. Given the apparent support at $26.50 - $27.00, however, let's hope it's UP!
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