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Biotech / Medical : Biotech & Pharma.T.A,

BIB 83.12

-2.1%

Jan 30 4:00 PM EST

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To: Jibacoa who wrote (3226)	4/27/2015 6:38:22 PM
From: Jibacoa	1 Recommendation Recommended By Land Shark Read Replies (1) of 3722

I had some questions about how low we can expect the BIB to drop.<g> Although on this thread's introduction, we can see that BIB closed down 8.25% for the day, on volume of 1,047,715 which was the highest since the down days of March 25 and March 26. It is probably not as easily to ascertain the fact that the index had already closed below its EMA50 on its daily chart, on March 26; Apr 1 and Apr 6. But today the close at 162.48 was still above its EMA50 which is at 161.96 and although there has been persistent selling pressure AHs, the price still remains above that level.<g> IMHO, the important support to watch is at the 155 to 157. If that's is broken, the next one is at the 149 to 150 level. But if the "correction" on the General Market turns worse and more people decide to follow the strategy of "Selling in May and going away", then we can expect that BIB will test the January Hs at 145 <g> It still too early to try to make a guess beyond that point. <g> Bernard

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