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Biotech / Medical : Biotech - Technical Analysis

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To: XenaLives who wrote (464)	7/12/2002 12:19:08 PM
From: Jibacoa	Read Replies (1) of 544

NEOT As you said it is at a critical point, but the extra $1.1M they raised on sales of shares at $0.16 although it will cause some dilution, will probably give the company some extra time to see the results of the present phase III on Satraplatin, their product for prostate Ca. At the burn rate they were going, there was enough cash for just one more Q.(The extra $1.1M will give them an extra month.<g>, so they will have to cut their burn rate) I don't know why you have to spend two hours looking at the chart. Since the triple top at the 10 level (2nd and 3rd week in September and 1st week of November 2000) the stock has been on a long term down-trend (the rally from the February 2000 L at 2.21 to the recovery H in April 2001 at 6.85 didn't go above the long term average line which was then at 6.90). The same thing happened from the L of 2.51 in October 2001 to the attempted recovery H in November 2001 at 4.90. Since then the down-trend has accelerated and this year the last recovery attempt from the April 1st L of 1.60 to the April 17-April 18 double top at the 2.69 level,appears to have probably triggered the down-gap on April 29 with the drop to $0.60 in spite of the reportedly institutional buying in the last Q.<g> At present the intra-day resistance is at $0.16 (It needs to close above $0.18 to attempt a possible recovery to test the resistance at $0.21)The July 9 H (after the up-gap<g>) at $0.26 is somewhat farther away.<g> siliconinvestor.com siliconinvestor.com I like to use 3 average lines. On the charts provided by SI there are only two. Yo can see that the price got above the medium term line in April 2001, but as I said, it didn't go over the long term average.<g> siliconinvestor.com RAGL Bernard

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