Biotech - Technical Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biotech - Technical Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: aknahow who wrote (61)	5/21/2001 5:05:25 PM
From: Jibacoa	Read Replies (3) of 544

XOMA: Has been trading on "double-tops" and "triple-tops" for some time.<g> The nearest resistance is now today's "triple top" with the intra-day Hs at 11.05 AM, 2.55PM and 3.50PM at the 11.50 level. The heaviest volumes (on a 5 minute basis) were around 11AM, apparently on the up-side(107,600)(up from 11.34 to 11.40); 3.50PM also somewhat to the up-side, but meeting resistance at the 11.50 level (107,000)(11.40 to 11.47)and the 123,700 volume near the close, which was definitely downwards (11.47 to 11.36) Today's total volume was 1,503,200(about 5x the recent average) and it was up 4.22% for the day. Not bad.<g>( I am satisfied if I can average 3% a week).<g> After the aforementioned 11.50 resistance the next hurdle is the April 30 H at 12.10 before it could think of testing the January 24-January 25 double-top at 13.87 Next in line would be the November double-top at the 15.25 level (that was slightly above the October H at 15.12 <g>)and then the March 2000 H at 16 As far as "support levels" the nearest ones are 9.75 before getting to the stronger looking 8.60 (from April) Revenues for past 3 years have been unimpressive (6.3M, 2.4M & 6.7M)but yearly loss has been declining.<g.(-1.56 to -0.87 to -0.45)and the current estimate is -0.42 According to their announcement last week they are going to start litigation with Biosite concerning the license agreements related to the bacterial expression of antibodies. They reportedly are receiving some license fee payments from BAX & ONXX The insiders only hold 3% and there have been more sellers than buyers lately.Institutions hold 36% and they reportedly have been buying. The company has a negative book value of -0.23 although they apparently have close to $0.50/share of cash. The overall chart is not impressive (and there are a lot of more better looking ones.<g>)The stock has to close significantly above 15 (at least 18 or as much as 23) for it to signal that it has a strong intention to challenge the 1991 H around 34.<g> I am not sure if that short summary will be of any help, but if not sufficient you can always wait for Paula's answer. RAGL Bernard

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next