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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

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Dec 18 4:00 PM EST

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To: joe who wrote (25197)	11/24/1998 2:49:00 PM
From: Bruce L	Read Replies (2) of 45548

Re: Candlestick Analysis of COMS FWIW I've reviewed my Nison ("Beyond Candlesticks") and give you this analysis: If we assume, as I do, that yesterday (11/23) was a "rising window" and assuming that in the following 3 trading days we do not fill that window (by closing below 40 3/16), then things will look very, very good for COM$. A "rising window" is merely a gap up from the preceding day; it is considered a "continuation" pattern meaning that if the prior trend was up, then this pattern signals that the trend will continue. If the window -or gap - is not closed within 3 days then the signal is confirmed. The window itself is considered good support. Technically, for there to be a rising window the open must be above the high for the previous day (the "shadow"). The high for 11/22 was 40 3/8 with a close of 39 7/8; the open for 11/23 was 40 3/16. So strictly speaking we did not have a rising window. However, these candlestick patterns can be interpreted somewhat flexibly. While the open on 11/23 was "only" 40 3/16 there had been heavy pre-market trading just before the open as high as 40 13/16; if this is considered we would have the "rising window." Also relevant would be the heavy volume of 700K in the first 1/2 hour on 11/23. Some of you will have noticed that today (11/24) on at least 3 occasions we reached, but bounced off of 40 3/16. Conclusion: We have important support at 40 3/16 and if by the close of trading Friday (markets closed Thanksgiving) we close above 40 3/16 then COM$ WILL continue its upward progress. Just my 2cents.

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