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Biotech / Medical : Biotech - Technical Analysis
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To: XenaLives who wrote (17)2/3/2001 1:11:00 AM
From: Jibacoa   of 544
 
Paula:

Good luck with your new thread.

As far as MLNM is concerned. IMHO, it remains on a near term and long term down trend.

It may "test" and find temporary support at the Jan.8 intra-day L of 39 1/2 or at the Nov.20 L of 41.12

If it "breaks" those "supports" it seems possible it could drop as low as the April 2000 L of 23.75

It has to close above 47 3/4 to "break" the short term down trend coming from the Jan.29 H of 55.75 In order to "break" the longer term down trend it has to close above 63.50 (that is the downtrend coming from the Nov.2000 H of 89.81)

As I mentioned in my notes to Scott Davis and to jair (see links below) I try to keep my TA simple, using mainly 3 averages.:

Message 15289020

Message 15193610

If you are interested on learning about TA you may lurk in James Strauss thread. I believe Jim provides a good interpretation of stock charts:

Subject 19933

Or go to DougR's thread: The 56 Point TA; Charts With an Attitude, which has been going at SI since 1997. His chart interpretations are somewhat more complex:

Message 15288237

As I mentioned I do not consider myself an "expert" but have been looking at charts for almost 40 years and think one can get useful and valuable information from them.

Regards and good luck.

Bernard
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