Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 196.51

0.0%

10:26 AM EST

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To: Andrew H who wrote (3367)	6/6/1997 3:44:00 AM
From: Scusami	of 32384

Andy: The daily and weekly P & F charts suggest that 15 is the next objective. This corresponds with the top of the down channel on the weekly bar chart. It may bounce from there and consolidate. If it breaks out above 15, the next resistance appears to be at the 17 area. (The prior high on 1-8-97 was 16 7/8.) With a good following and momentum at that point, the next target is 20. The previous high was 19 3/4 on 5-29-96. Above 20 there is no resistance. Much has transpired since the May '96 high within Ligand, so after a year of R&D and trials galore, I'd expect to see 20 penetrated fairly easily. At that point it's risk vs reward considerations and long term perceptions by investors.

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