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Biotech / Medical : Biotech - Technical Analysis
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To: XenaLives who wrote (31)2/23/2001 1:55:19 PM
From: Jibacoa   of 544
 
Paula:

Previous Ls or Hs could be support or resistance levels (depending on which way the present trend is headed). The trendline itself as well as the average lines are potential support or resistance levels.

Regarding IMGN, I mentioned : "It could find support at the 14 level (from the double bottom on Jan 8 & Jan, 10 at this level), but it seems to have better support at the 11 level." If you look at a weekly chart, although the L in Late July and early August last year was between 9 1/2 and 10 1/2 , you could see the 11 level is where most of the rest of August Ls were and that was also the level where the rally in April from the 7 7/8 L was cut short.

You may take a look at some comments I made on the DOW and the NASDAQ, that could give you some ideas, but the best thing for you probably will be to get some basic book on TA:

Message 15392870

Look also at the "Analysis" at the bottom of some of those charts, which although it is generated by a computer, could also give you some ideas about TA.

Bernard
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