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Biotech / Medical : Neurobiological Tech (NTII)
NTII 0.00010000.0%Mar 7 3:00 PM EST
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To: BRAVEHEART who wrote (650)8/16/1999 11:55:00 AM
From: BRAVEHEART  Read Replies (1) of 1494
 
TECHNICALS:

Typical low volume sell-off. This suggests there is little wrong fundamentally. I expect the stock to readily trade back up as resistance will be even less on the way to $1.5

Typically M&M's will let the bottom fall out in order to:

(a). Avoid holding shares above solid resistance ( ie $1 ).
(b). Pick up shares to cover shares sold into a recent rally.
(c). Form a new below moving average lower risk position.

This is typically seen after buying has been exhausted at higher levels. I expect many of those who sold at $1.5 & above will be looking to reaccumulate over the next few weeks ( assuming news doesn't disrupt this process ).

Right now the Stokes have bottomed. Typically accumulation starts at these levels. MACD has yet to bottom & cross-over. Once it does the share-price momentum should fully reverse and trend-up.

clearstation.com

Under normal circumstances the stock should trade back to relevent moving-average over a relevent period of time. Right now I expect the stock to trend back to $1.25+ based on T/A alone over the next 10 trading days. Of course any positive news ( Inhouse Financing ) event should result in a re-test of the recent highs. Significant news ( Big-Pharma collaboration ) and we should be looking at new highs. : ).

Best Wishes
Jeffrey
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