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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (34485)	9/27/2001 11:00:23 AM
From: j g cordes	Read Replies (2) \| Respond to of 68875

re TQNT.. First Union initiated them as a mkt perform yesterday and Sonus warned blasting networking. The bounce they experienced set them up for a bigger relative fall on bad news in their sector. Technical support has been above 16 for the last 3 months and it dropped through that.. now testing support from April bouncing and mid June in 14's. Support below that is just above 10.. so 10.5-11 would be a classic downside test if this negativity continues to impact their market sectors.. not saying it will get there, just the TA scope. Jim