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Technology Stocks : Newbridge Networks
NN 12.53-1.5%Nov 19 3:59 PM EST
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To: Doug who wrote (6742)9/30/1998 3:30:00 PM
From: Doug  Read Replies (1) of 18016
 
All:Technically NN can once again claim to have reached the lows. Todate, for the year we have touched these levels 4 times between March and now. On each bounce, upward Momentum decreased resulting in lower highs. This is interpreted as signs of exhaustion which may result in either a longer period of basing or a lower trend.

Since the growth in the TELCOM sector is expected to be only 14% for the next 3 yrs, it is likely that the P/E valuation may be revised downward in line with lower growth. In any case, an uptrend can only be established after the Money Flow turns positive.
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