Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 183.37

-1.4%

10:37 AM EST

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To: Andrew H who wrote (7310)	9/23/1997 4:40:00 PM
From: MulhollandDrive	of 32384

Hi Andrew, still watching LGND, but so far have not seen necessary volume to propel a breakout. This McCamant/Murphy thing is something I was afraid of. In watching the trades, it appeared that there had been some distribution going on at the 16/17 dollar level. If the stock doesn't get some momentum going forward, I think you could be looking at the support level near 12. Of course, substantiated news could make the TA moot, but for now, things are still a little tentative. On the plus side, lots of stocks drift downward somewhat on lower volume before the real breakout occurs, but if the stock doesn't pickup in volume with price appreciation soon, it may be looking like a very large double top. bp

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