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Technology Stocks : Westell WSTL

WSTL 6.030

-2.7%

Jan 9 9:30 AM EST

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To: DR.TECH who wrote (15030)	2/6/1999 12:19:00 AM
From: P314159d	of 21342

>> Take a look at feb 96 and feb 97 both were the first month of a very good moves in WSTL stock , I have the same expectations for feb 99 Feb '96--I can't believe you can bring up a stock just post IPO and compare it to today! So i guess we bail out all those holders who thought the stock was worth 10 times what it is today? Feb '97 -- Well whatever chart your looking at -- throw it away. WSTL bottomed under 10 in March '97 after it fell in straight line from Dec. highs of like 30. Then had a typical oversold rally to half its previous annual high. Such a rally today would get us back to 8,if we had the same oversold condition. In Feb 99 -- we have a soaring weekly stoch ( nearly overbought if you can believe that at today's price), not near zero as in MARCH'97. And ,of course, being a chart reader yourself know we cannot talk stoch in '96. Now we can recreate that oversold condition from here, but I doubt you want that! No, rather it seems the stock is at the end of an exhaustive move off of the oversold October condition. The move could produce that $10 figure but it will rollover ( right at the LT trend line). In fact without a significant breakout, the wedge formation is a continuation pattern for the LT downtrend. short of positive news ( of explosive variety ) the oversold condition should win out over the next month. The biggest positive is the volume and WSTL needs another upsurge with it. Maybe you could convince the powers at be to look at the chart and time their good news for the sake of those who have been so patient.

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