To: Joseph Colombo who wrote (40477 ) 3/22/1998 2:50:00 AM From: Inga Read Replies (2) | Respond to
I did some TA on Asnd price movement since Jan 1 and noticed the following patterns. Asnd had been in an up trend until the last week of Jan. After earnings were announced, we had 5 consecutive down days. The down days could be caused by sell-off due to unimpressive earning reports or by a random historic event (Clinton sex scandal). The stock resumed its up trend after investors realized that things are probably not as bad as they sound. This up trend was disrupted by the next 4 days in the down trend due to another external event (Intel earning fiasco). The up trend was then resumed due to the Everen upgrade (according to Everen, Asnd stock price should be from 37-42) which restored investor's confidence somewhat. This up trend lasted one week before we received a bomb threat from our friend SNI, and rumours from the shorts that Asnd was going to warn either on last Tuesday or Friday, because Bay warned. Asnd again went into a 5-day down trend. Thread, if history repeats itself, Asnd will resume its up trend in the next few days, probably on Monday, to begin its ride to 40 for good Q1 earning anticipation, and rosy Q2 forecast. Investors now realized that they were fooled by the shorts and the bomb threat was a hoax (The sellers probably were still terrified with a possible repeat of the Q3 10K experience). Besides, next week is the last week of the quarter and the chance of an earning warning is reducing tremendously. The trading day before Asnd starts its up trend always had very small trading volume (4 MM shares last Friday). So shall we see 33-34 again on Monday? I am keeping my fingers crossed since Asnd has not been down for more than 5 days since Jan 1. Just my 2 cents.
