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Technology Stocks : Compaq
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To: Captain Jack who wrote (54573)3/23/1999 2:16:00 PM
From: Christopher  Read Replies (1) of 97611
 
Captain Jack, You need to know why CPQ is up? Let me give you a TA reason as to why it is up. I said before while CPQ was still around 34 or 35 that 30 was a support for CPQ. The reason it is a support is because a lot of people bought CPQ when it was around 30 during last September-November time frame. People that bought CPQ around that time have witnessed CPQ go up to 51 and come back to 30. These people will not be selling CPQ at this time and may in fact see 30 again as an opportunity to add to their position. Also, people that were contemplating buying CPQ around 30 during the September-November time may consider that they have been given a second chance since they missed the first run up to 51. They will take this second opportunity and buy CPQ.

These two groups will push CPQ up. This is what support in TA is all about.

Good trading,

Christopher
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