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

To: JB who wrote (12962)	12/5/1997 4:45:00 PM
From: Alan Aronoff	Read Replies (1) \| Respond to of 29386

200 shares on the close traded below the bid. Someone out there trying to stall our little rally? Let me tell you.... It won't work! <g> Looking at $6 as next resistance level to bust through, based on it being support from previous week. 50 DMA and the 200 DMA are currently at $7 1/2 and downtrending of course. MACD, an oscillator based on the point spread difference between two exponential moving averages of the closing price (one tracking long-term consensus and one tracking short-term consensus) is in an uptrend. It had been in a downtrend from Aug 7 to Nov 11. Following the MACD buy/sell signals would have indicated selling at $10 and buying back at $6 1/2...not bad. The fact that MACD has continued to rise since Nov 11 while ANCR has hit new short-term lows over the last couple weeks indicates a very bullish divergence which should result in continued strength IMHO.