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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Landrum who wrote (23616)	8/5/1999 11:53:00 AM
From: donald sew	Read Replies (2) \| Respond to of 29386

Steve, ANCR tested the 15 TRENDLINE, by getting as low as 15 5/8. In my previous note I mentioned that I was not sure if the MAIN TRENDLINE was at 15 or 17.50, but with today's action it appears that it is 15. ANCR has already bounce nicely back above 20 which is a good sign. On the other hand, statistically it is common for a retest of the the low(15 5/8). If the overall market continues to be weak, it would not be unlikely for a retest in the 15 range. If ANCR can break above the CURRENT DOWNWARD TRENDLINE, which is around 30, that would negate the possibility of a retest. Again, I am not considering fundamentals or news, just the technicals. seeya