Elan Corporation, plc (ELN) Message Board

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Biotech / Medical : Elan Corporation, plc (ELN)

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To: Gary Korn who wrote (607)	11/5/1999 5:09:00 PM
From: Return to Sender	Read Replies (1) of 10345

Gary, do you use technical analysis much on stocks? ELAN reached a tremendously oversold condition this morning. The lower bollinger band was violated and the short term relative strength bounced off of a 20% rating. Obviously I could have bought shares for less today but in light of the statements made by Elan management those days should be numbered. It seems pretty obvious to me that analysts have been taking advantage of a rather minor delay in the delivery of that migraine drug. I mean lets be serious ELN stated that it would only amount to a 4 cent change in their own estimates. All they have to do is work a little harder to sell other products to make that up. In the meantime you can bet that the institutions were adding stock to their inventories at the very time that analysts have been downgrading this stock. ELN will move up from here. It might not move quickly because of the large float but unless you think ELN management is clueless about the future of their company's earnings then we should have seen the bottom today. Have a great weekend! Sender

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