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Technology Stocks : Lucent Technologies (LU)

LU 2.650

-2.9%

Nov 14 9:30 AM EST

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To: HiSpeed who wrote (4405)	9/30/1998 4:32:00 PM
From: FUZFO	Read Replies (2) of 21876

from wallstreetcity.com: Lucent Tech and Wal-Mart Bust Through Major Support Levels on Elevated Volume by Paul A. Alvim Managing Editor Lucent Technologies (LU) and Wal-Mart Stores (WMT) are both skidding as the overall market heads south. Both stocks appeared on the 11:53 a.m. cdt ProSearch run of Negative Price Gaps. Lucent has been mired in a "correction" since reaching an all-time high of $108 in mid-July but has been able to hover above $70 support. The stock had made three previous unsuccessful attempts to break through the $70 area, but was finally successful on its fourth attempt as it is currently trading at $69, down $5-1/2 on 15.2 million shares! The heavy volume, along with major support violation, indicates that sellers are now in control and should drive the stock much lower - there is minor support at $65 and then $55.

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