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

To: vegetarian who wrote (30791)	1/16/1998 2:53:00 PM
From: uu	Read Replies (1) \| Respond to of 61433

> If it shows weakness on tuesday and closes down, it is shortable and headed down into the rectangular consolidation. I never really understood what do all these chart readings mean. Do people buy a stock just because when drawing a chart of its price a rectangle or a square or (heck even a circle) is formed? And when we say the next stop is $35, who is the guy who does not buy it now and waits until stock reaches $35 (if that to be the next resistance level). That guy must be really gutsy too buy it at the top! Or when one of these con-artists (i.e. analysts) sets a target price of for example $80 on the stock. What does this mean? If a stock is at $80 and if I read that a bunch of people had set a target price of $80 on that stock, I know I for one would not dare touch that stock! But obviously not everyone thinks that way otherwise how on earth would the stock get to be $80 in the first place?!! Or is it that the reason we buy a company's stock it is because of its future outlook and underlying fundamentals? Regards, Addi Jamshidi