GZTC Message Board - Msg: 2114456

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Biotech / Medical : GZTC

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To: Vector1 who wrote (385)	9/4/1997 12:23:00 PM
From: Giuseppe Scalamogna	of 752

To Everyone, It's been awhile since I've posted but much of that was due to my trip to Italy so I have a good excuse. Everything has come along nicely I see from the latest of news releases and right now we are caught up in some doldrums as the biotechs in general aren't Street-Sweets. I expect this to change however for many due to many logistics which in this post I can't outline but at a later will be sure to share. This post is mainly a technical update on GZTC pruice movements over the past two months as are detailed by Point & Figure (my favorite technical analysis tool). We weren't able to complete the bullish triangle which would have necessitated a drop to 7 1/2 in early August but still things are looking extremely positive. @ 10 1/2 GZTC will break a triple-top which is basically the stock breaking through resistance @ 10 which we have encountered twice, the first time in February '97 and the second in July '97. We still hold the Long-Term bullish support line dating back to July of last year inititated @ 3 1/2. A break of this would occur on a down move to 7 1/2 from our current levels but I personally don't see that happening due to plenty of support developing around the 8 to 8 1/2 range. $10 is a major resistance point for the stock and a break through would indicate a depletion of sellers (overhead supply) at that price and could take GZTC to new highs. Major Wall Street firms such as Paine Webber and Dillon Read still remain positive on the stock and for good reason. We've seen no major setbacks in any research programs and they continually press forward developing a well divirsified pipeline to follow the introduction of ATIII (assuming ATIII makes it to the market). On top of all this we have favorable support from Genzyme which I think treats this company as a sybling. Hopefully we'll see some money rotate into the sector and at that point watch for promising companies like GZTC to push to new highs as money floods in. GZTC's chart in general has been one of the more positive biotech's over the past year and I think this all works to our advantage when a shift in money-flow comes about. Right now we simply lack the demand to crowd out sellers at higher prices. If anyone has any questions on the charting please let me know. Good Luck and Good Trading GS

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