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Biotech / Medical : Biotech - Technical Analysis

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To: Jibacoa who wrote (352)	4/18/2002 5:23:35 PM
From: Jibacoa	of 544

EDEN Had a good day today.<g> It closed near its H for the day.<g> siliconinvestor.com EDEN is a "plant biotechnology company" <g> but their goals are different from LSBC in that they are mainly concentrated in improving "crop quality".<g> Today's 48% up-move on 10x its average daily volume was apparently due to the news that the EPA has granted an unconditional registration for use of its Messenger product "on all food commodities, fiber-producing crops, trees, turf, and ornamentals". "Messenger is based on naturally occurring proteins which activate natural plant defense systems to protect against disease and pests, and simultaneously activate plant growth systems, improving crop yield and quality".<g> The next resistance is at the January 17 H of 3.55 and then at the heavier looking resistance at 4 before it could test the December 28 H at 5.69 <g> The short ratio is around 10.5% of the float and part of today's move could have been due to some short covering.<g> siliconinvestor.com Bernard

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