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Technology Stocks : Compaq
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To: Lynn who wrote (52659)3/10/1999 8:56:00 PM
From: Christopher  Read Replies (3) of 97611
 
TA profile for CPQ.

I have received several memos from members on this thread asking for a full TA analysis for CPQ. Just remember, DON"T KILL THE MESSANGER! I don't make chart, I only read them.

Technology stocks have been underperforming S&P 500, not a good sign in general. CPQ gapped down on very heavy volume on 2/26/99 when it lost 5.625 on that day. This was a very bad sign indicating more to the downside to come. CPQ also closed below its 200 dma(Day Moving Average) indicating that it has started a downtrend. It has also created a pennant and broke to the downside indicating more to the downside to come. The next support for CPQ is 30 and then 23.

There is a good news however. The DOW is getting ready to soar and it is a good time to buy stocks but not Technology stocks. Financial and
insurance companies are outperforming S&P 500 at this point and offer
a good buy.

Good trading,

Christopher
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