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

To: margin_man who wrote (23509)	5/15/1998 11:20:00 AM
From: Rick Smith	Respond to of 36349

A little technical analysis update. Point and Figure Charts show a scary situation for you guys right now. If 17 1/2 is touched today, you will find the stock vulnerable to 15 rather quickly. This is a very important level and 17 1/2 only has to be touched intraday to cause this sell signal. The Bollinger Bands are giving a buy signal right here at 17 5/8. The sell signal today would be at 19 7/8. And the moving averages seem to be converging at 19 1/8. Summary: If the stock can hold at 17 5/8 today I would be a buyer on the close, even if I had to pay 18 for the stock. If it touches 17 1/2 I would advise taking defensive action by hedging positions with the 17 1/2 puts immediately. Even if PAIR trades off of 17 1/2, I would hedge the position. The point and figure charts have been very good an PAIR over the past couple of months. I have no position currently but am watching this one to buy on a bottom play. I thought the thread may be interested in my current observations. Good Luck to All. R..