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Biotech / Medical : Vivus, Why the Slide?
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To: Brian Pastor who wrote (3225)8/31/1997 1:11:00 AM
From: DDS-OMS   of 3991
 
Brian,

In a word, higher. VVUS will work off being short-term overbought next week. There is Gann support at 25. I think VVUS will hit 25 late next week and:

1. If it holds at 25 and turns up, should be good to 32, but not by 9/12 (the 2 week period you asked for). I think it would take 3-4 weeks from now to reach 32.

2. If it does not hold at 25, then within 2 weeks would test 200 DMA at 23 and expect break to 21.5

#1 looks like the more probable, assuming the DJIA isn't closing in on 7200 while VVUS is trying to rally.

Regards,
Gary
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