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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?


To: Richaaard who wrote (19068)3/3/1998 10:34:00 PM
From: Gene Lee  Read Replies (2) | Respond to of 97611
 
Richard: -me, not a chartist, but wondering why bottom is $26?

$26 is a strong support, but not necessarily the bottom. That is:
Strong support does not equal bottom.

We know the bottom ONLY after seeing a successful reversal. Instead of predict the bottom, I would try to figure out what would be the next move which I think CPQ will retest today's trading range 29 to 30 1/4 first based on today's move. It is obviously over sold.