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Technology Stocks : PairGain Technologies
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To: epicure who wrote (23718)5/22/1998 1:39:00 PM
From: William G. Murray  Read Replies (1) of 36349
 
> but would be interested in others technical assessments.

OK, here goes. Looking at the chart back past 1/1/96, we see that PAIR may be forming a "triple bottom". (For those that reads Dr. Alexander's book, "Trading for a Living", Elder explains that triple bottoms are rare, but very bullish.)

The first bottom hit roughly 15.625 and lasted from mid-May through late July in 1997. The second bottom also tagged mid-15's with the majority of the base near $17.25 and lasted from early December '97 through the end of January '98.

Since the 1st bottom, average volume doubled indicating (at least to me) that a lot more folks have been interested in this stock since it fell from its high of $40+.

Are we forming a bullish triple bottom? Only time will tell. I've put my money into the side of the bulls for this one.

B.M.
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