Centocor ( CNTO ) Message Board

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Biotech / Medical : Centocor ( CNTO )

CNTO 0.00001000

0.0%

Nov 21 9:30 AM EST

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To: FNS who wrote (121)	6/9/1997 5:00:00 PM
From: Thean	of 965

Today is the second times in 2 weeks that 36 1/2 resistence is tested and failed. The trading volume of CNTO has also increased lately and so has the volatility. I think penetration of the 36 1/2 level will have to come from a supporting uptrend on daily high/low. For example, the hi/lo on last Friday was 35 7/8 vs 34. Today it is 36 5/8 vs 34 5/8. If we keep moving this up for a few more sessions, we will break over to 37. So technically CNTO has not broken down yet. We need positive news that will jump CNTO over the hurdle. I think if we are getting positive news it will come in the form of overall positive result that allows the indication study to progress towards Phase III efficacy endpoints. I don't think any positive news will come in the form of exceptional positve surprise - for they would have preannounced like they did Reopro and the earlier CenTNF data. I'll sell if CNTO closes below 34 after the news.

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