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

To: Eleder2020 who wrote (13785)	1/22/1998 3:13:00 PM
From: Alan Aronoff	Read Replies (1) \| Respond to of 29386

Eleder, For me the key is the 50 DMA. With a b/a of 5/16 x 3/8, ANCR is right at its 50 DMA. I had been expecting a test of the 50 DMA like the one back in May '97. It came the first week of the new year. Unfortunately ANCR could not stay above the moving average which it did back in May. I am heartened to see it trying once again to close above. I believe it would indicate a change in trend if ANCR could continue to do this for four or five days. A weekly chart of slow stochastics also reveals strong similarities between the Oct '97 to present time frame and the Jan - May '97 time frame which led to the rally.