CEPH Message Board - Msg: 1094077

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Biotech / Medical : CEPH

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To: harkenman who wrote (80)	3/31/1997 1:42:00 AM
From: E. Graphs	of 998

Technically, in Jan/97 CEPH broke a very long downtrend from early Jan/96 when it was trading at $40. Relative strength is now at 55. Volume follows price. First support is now at 20 3/4, which also happens to be the 200day MA; second support is at 18. A break below 18 would NOT be good for this chart. (Because of all the positives I don't expect this to happen.) First resistance is at 24 and also happens to be the 50day), second resistance at 26, and a close above 27 1/2 indicates to me a price target of 37. Very positive that CEPH closed up on 3/27, because R/S needs to improve now. The Daily Graphs show 12% debt, 3.93x bk, and short interest at -14%. EPS estimate for 97 is -2.50 and +.37 for 98, which would be the first profit that I see going back to 1991 (my source's limit). Interesting stock. When I checked sentiment (about MYOTROPHIN) over on the Chiron thread I couldn't help but notice rumors of a J&J merger over there. Such things make me glad that I chart. All info above IMHO of course.

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