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Technology Stocks : Compaq
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To: Roads End who wrote (59636)4/23/1999 10:11:00 AM
From: Elwood P. Dowd  Read Replies (1) of 97611
 


Trying to base - will take time
by: aPrudentTrader (36/M/uk)
71674 of 71891
CPQ fell right to its support line at 26. Now it will have to make the long climb back up,
which could take some time. It is simply amazing that the stock finally broke out of a
multi year trading range (23-37), was recommended by 3/4 of the Street and blows it
huge on earnings. There are 1.7 billion shares outstanding so when the volume traded at
this level approaches 500 million, we can maybe assume that all those who wanted to
sell have sold. Now with the resignations, the stock may get cheaper, but a better
prospect now that they are gone.
Check out this insightful chart with technical analysis and proprietary indicators on
Compaq at tdtrader.com
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