Antex Biologics (ANTX) Message Board

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Biotech / Medical : Antex Biologics (ANTX)

ANTX 1.090

+2.8%

Nov 28 9:30 AM EST

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To: Linda Kaplan who wrote (553)	11/16/1997 12:29:00 PM
From: Amigo Mike	Read Replies (2) of 1476

Hi Linda, Good question. My TA person ??? It is mostly my interpretation of the TA picture based on my study of Doug's TA system. Just took a peek at the chart. We are obviously in a short term downtrend (as are most stocks). Antex has faired rather well during this round of market turbulence until this past week. The technicals have deteriorated below their uptrends. Through an extensive series of trendlines, 1 1/8 is an important price point for Antex in the long term. At present, it is also the 50 day MA. If Antex holds 1 1/8 the technicals should recoil for another move higher. The next area of support is 1 1/32, which is defined by the wave tops throughout 1997. As to your H&S top formation, I would expect Antex to trade sideways for a while until the beginning of December. This would likely complete the H&S formation. I would however expect the right shoulder to hold above $1 as noted above and trend slightly higher. Realize that the last wave move higher on Antex was very, very strong and much larger than any previous move in Antex stock. It does go to show that Antex can and will move powerfully when their technology and vaccines are accepted in the marketplace. Remember also that Antex is due to report two phase I trial results (H Pylori and H Influenzae) near term plus IMO I think we will see a surprise. Also of note is the investment banking valuation model for Antex which on a fully diluted basis values Antex @ $2.51 per share. I look for Antex to hold above the $1 area and strengthen technically before resuming higher. Those following the board for a while already know that I want shares just above $1. I'm hoping to get my chance this week. Mike

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