Immunex Message Board - Msg: 1027746

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Biotech / Medical : Immunex

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To: Mark Wise who wrote (37)	3/20/1997 1:37:00 AM
From: Greg Hansen	of 656

The chart is revealing no secrets...yet! A close below 28 within the next 3-4 bars will confirm a head and shoulders reversal. A move up on good volume over the next 3-4 days, would turn the same chart into a bullish flag pattern. The fundamental data is pretty lousy and pharmaceuticals in general are getting hammered. This has held up pretty well compared to most in the industry group. I think I'm only a few days away from taking a position on this one, but its strictly going to be a 'chart play' depending on what the next few bars reveal. If it does develop a head and shoulders top, convential TA suggests a continuing decline to the 22 range.

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