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

To: DHB who wrote (41040)	3/25/1998 8:01:00 PM
From: username	Read Replies (2) \| Respond to of 61433

Dennis, I did not know you were a TA guru! Which TA is that you mean, Dan? I don't have a Cobra. yet. (one of the only Fords that is worth owning.) Here are a few thoughts: my outlook is still the same as in December. There are some additional comments I can make about my ASND chart; I still see the major resistance at 38-39 and the major support at 34. (these are approximations) The long term chart looks much healthier than it did in January, and I still look for a fast move from 41 to 47 when the resistance is broken (and holds) at 39. The biggest change is that the chart now shows an upside target of 57, which is 6 points higher than my previous target (January). The breakout on this target is 38, which means the stock will have to hold in that range and then move up. A failure of the support level at 34 will only extend the time period to the upside target, not nullify it. Trading range has been as I thought, 5 to 8 points, but the recent downward glitch looked potentially ominous (eh, Jeff?). The breakout today (assuming a confirmation this week) would indicate a short term upside target of 41, but if the stock hits that price, especially on a fast spike on higher than average volume, I will be leery and look to cover long option positions. I will then wait and see what develops. The chart is basically strong, but showing some apparent short-term weakness that I would like to see resolved. I am still very bullish. (I don't make "timing" calls on these things because I can't tell when they will happen. My short term filters are totally different, anyway.)