Matritech (NASDAQ - NMPS) Message Board

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Biotech / Medical : Matritech (NASDAQ - NMPS)

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To: Tim Zhu who wrote (80)	6/18/1996 11:46:00 AM
From: Patrick Tang	of 849

Tim: I agree with you in your accessment of the PSA situation. However, this trivial news DID offer the specialists an alibi to sneak the price down ($.875). I unloaded my position for some pocket changes when the price/volume actions deteriorated last week. That was AHEAD of the secondary distribution news break. Using IDPH as a guide, when NMPS made the announcement, the price was at $13. A 20% decline (same as IDPH) at distribution will bring it down to $10.40. Using primary uptrend (from $5 to $18) analysis, a 50% corection at phase 2 will bring it to $10.50. These numbers are awfully closed and should not be ignored technically. Thirdly, $10 is a round number and like magic, it will take a lot of effort to penetrate it up or down because the transformation from single to double digit (or vice versa) is an important milestone and will normally find support or resistance. Maybe $10-10.50 is a good trading entry point. Well, I guess only price/volume data can confirm this. Best wishes.

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