Biotech - Technical Analysis Message Board

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Biotech / Medical : Biotech - Technical Analysis

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To: XenaLives who started this subject	2/5/2002 9:58:07 PM
From: macavity	Read Replies (1) of 544

Biotechs - My take! I trade the daily/hourly charts looking for +3 day moves with a supportive trend. I see the Biotechs as having some technical (stochastic) support here. But they have to hold current levels/ sep2001 levels. Biotechs Have bearish but weak "Trends" in monthly and weekly. In daily they are definitely bearish with negative momentum (over my time scales). However because the weekly "Trend" is weak I look at the weekly stochastics and support/resistance levels. If they can hold these levels over the next 10-20 days or so then I would expect a significant rally if the weekly stochastic gives a buy signal. I am keying off the 21d Stochastic rising above 20% as an (initial) buy signal. thx -macavity

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