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Biotech / Medical : VISX
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To: Bretsky who wrote (1357)10/29/1999 1:21:00 PM
From: StockHawk  Read Replies (1) of 1754
 
>>ANY VIEWS ON HOW MUCH LOWER WE COULD GO WOULD BE APPRECIATED<<

Visx has fallen to it 200 day moving average (which today is about 67 3/4). For high growth stocks in corrections, the 200 day sometimes acts as support for a bottom. It that is true, then this would be a buying opportunity. On the other hand, if it falls significantly below the 200 day things could get uglier.

Clearly, the stock has not been acting well lately, it shows higher volume on down days than on up days which indicates selling pressure. And even when the market is in rally mode, it trades down. Keep in mind however that even the best tech stock often go through severe corrections of 40 to 50%. Most of the time, if the fundamentals have not changed significantly, they come back. Often quite quickly.

StockHawk
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