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Technology Stocks : HWP -- Hewlett Packard -- Ignore unavailable to you. Want to Upgrade?

To: mp who wrote (2780)	12/2/1998 3:18:00 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 4722

mp, can you elaborate on the TA indicators you base your target on. I understand the potential fundamental explanations, but I'd like to know what you see in the charts. What I see is a gap from a few weeks ago that sits just above the current price and potential resistance at $68 or so which was the top of the last run as well as the top of the range from last winter. Also, the trading since the gap down in Nov looks like a pennant to me - more likely to break downward than upward. I would prefer to be bullish, but I don't see much reason to be. I'd be much happier if it consolidated here at 60+ for a while until there is reason to be more optimistic about the economy, particularly signs of recovery in Asia. I imagine there is huge pent-up demand in much of Asia, particularly Japan, that could lead to an incredible rebound IF consumers and businesses there could just find some confidence. Kind of like the US in 1982. For now, though, a trading range for HWP in the low-mid 60s (and holding it even if the market collapses again) would be a good thing. JMO, Bob