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Biotech / Medical : Biotech - Technical Analysis

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To: XenaLives who wrote (26)	2/23/2001 11:52:11 AM
From: Jibacoa	Read Replies (1) of 544

IMGN: Remains on a down trend. It may find support at the 11 level. Will be some time before we know if the deals with Genzyme Transgenics and Avalon bear any fruit. Today it is trying to reverse the early dip to 13 3/4 and the volume on the second 1/2 hour of trading (139,500) which brought the price back above the 14 level, was slightly higher than the down volume on the first half hour (128,800) It could find support at the 14 level (from the double bottom on Jan 8 & Jan, 10 at this level), but as I mentioned, seems to have better support at the 11 level. At any rate I would not consider buying until it is able to resume an uptrend. RAGL Bernard

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