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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (5107)	12/5/1998 9:23:00 AM
From: Jim Roof	Read Replies (2) \| Respond to of 21876

George it was the way LU acted during the last several days. Narrow range to down not moving over $90 and then sudden an explosion on no news of 10% at a time that other in the group were flat or slightly up.(except NOK.A on their cellular issue) Ever heard of a breakout? Prices can make huge moves on nothing more than technical considerations. LU had moved from the 50's to a range of consolidation (your narrow range) between 80 and 90. LU has simply broken out to the topside with a minimum target of about 105 short term (2-3 weeks). Personally, I think 120 may be a longer term target (8-12 weeks?). Consider that many stocks get clobbered on nothing more than 'profit-taking'. That common term is a well accepted technical condition. The opposite can also hold true. Jim