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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: jeff wheatley who wrote (28263)	12/18/1997 11:09:00 AM
From: vegetarian	Read Replies (1) \| Respond to of 61433

Jeff on the INTC head and shoulder: I also saw that one however the following caution is in order. Usually the h&s patterns are pretty good indicators and are successful about 75% of the time. While the INTC price pattern is showing a h&s, the volume pattern is very concky. The h&s pattern should have highest volume under either left shoulder or the head; in INTC case, the volume is high under the right shoulder (where volume should be lower in any case). Such patterns have a higher chance of failing and not following through; as an example examine the chart of AOL in the last 4-5 months that also had formed a h&s pattern with high volume under the right shoulder and it did not turn out to be a topping pattern. I have no love for Intel but the chart reading needs to be done carefully here; there could be accumulation going on as indicated by high volume under right shoulder and INTC could break out later instead of down unless the broader market goes down. Sorry about non_ASND post.