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Biotech / Medical : Biotech - Technical Analysis

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To: XenaLives who wrote (387)	5/13/2002 2:54:49 PM
From: Jibacoa	Read Replies (1) of 544

Paula The BTK is bouncing from its recent double bottom at the 380 level.<g> It now needs to close above the May 9 H of 417.74 before it can test the April 30 H at 441.72 <g> In spite of the "January Effect", the down-trend that started from the Dec.28 H of 605.27 was not broken in Jan. or Feb., as the double-top on Feb.12-Feb13 at the 527.75 did not pierce the longer average line which was then standing at the 532.19 level.<g> The bounce from the Feb.8 Mar.1 double bottom at the 457 level did give a false "buy signal" as the Mar.19 H of 543.73 was above the longer average line (then at 516.28) At present the latest down-trend coming from the April 19 H of 498.27 still remains intact with the 3 averages (S, M & L )in the wrong sequence (S= 394.88 M=415.66 L= 459.28 ) As you know to be on an UPTREND, the right sequence should be S-M-L in descending order instead of the present ascending one.<g> Let me know when the BTK can close above 450.<g> stockcharts.com siliconinvestor.com RAGL Bernard

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