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Technology Stocks : Newbridge Networks
NN 14.32+1.1%Jan 9 3:59 PM EST
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To: Mark Kubisz who wrote (4126)4/17/1998 8:31:00 AM
From: Giraffe  Read Replies (3) of 18016
 
>>term outlook for Newbridge's stock performance. Could anybody versed in technical analysis give us their take on the situation?<<

Looking at the long term (US) chart there is obviously significant resistance at around 36 - it's been bumping it's head there quite regularly since December 93. However all of my shorter term indicators - weekly and daily MACD, Wilders RSI etc - are very positive.

So my guess is that it will retest 36 again pretty soon. After that point who knows. But after a big slide like we've had since October I wonder if it wouldn't have to form a real bottom pattern before it breaks through that major resistance point and resume the long term uptrend. In that scenario it could bounce between 36 and 20 for a while.
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