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Biotech / Medical : XOMA. Bull or Bear?
XOMA 25.54+1.4%Dec 15 3:59 PM EST
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To: Robert K. who wrote (4068)10/13/1997 8:56:00 AM
From: Tharos   of 17367
 
Bob,
With Xoma I tend to say it will move only with news because of its jaded past. I believe this reputation still follows Xoma, possibly confirmed by my mention of it to some circles yielding little more than a laugh. Xoma needs a significant announcement, like completion of PIII mennin trials, to regain credibility loss from its previous sepsis/E5 debacle. An affair which lasted years if you count the time between failing statistical testing and this summer's final cancellation of efforts to bring the product to market.

Without a doubt Xoma's price-plot story is a matter of interpretation and different "tea leaf readers" will tell the story in their own way. The stock consolidated from its decline but was unable break out above $8 for an entire year before finishing its plunge from $33+ to $1+. We are now in the third attempt in the last year and one-half to break out above $8. This eight-dollar resistance area appears to me to be the last serious one, based on the stock's price history. Nine-dollars appears to be a support area for prices above it. I added to the bottom of my web page a price plot going back to April 87. I hope this helps explains why I suggest the undecided wait for a close above $9 as a "safer" ploy.

geocities.com
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