NEXTEL Message Board - Msg: 4156856

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Technology Stocks : NEXTEL

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To: Arnie Doolittle who wrote (5774)	4/22/1998 10:26:00 AM
From: Ken Benes	Read Replies (2) of 10227

Arnie: We are finally getting some weak support around that level. Minimally, if nextel trades sideways for awhile, that trendline will be taken out. At this time, it would appear that 28 is going to be tested. The fall has more to do with the market getting toppy and investors parring their positions. Leverage plays are the first to go. One other observation, it is beginning to appear that the inclusion into the S&P 500 while removing a lot of free trading stock, has not changed the past patterns of nextel very much. If this is correct, it will be easier to plot the coming moves in nextel. With over 200 million shares outstanding, traders and short term investors only need at most 10% of that number to create definitive trading patterns. We will probably see a new trading range replacing the old one of 22 to 32. Hopefully that range will be between 28 and 34, before we get the momentum for another leg up. Ken

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