GZTC Message Board - Msg: 3094503

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Biotech / Medical : GZTC

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To: Chuca Marsh who wrote (487)	1/5/1998 11:44:00 AM
From: Giuseppe Scalamogna	Read Replies (1) of 752

I'm back so I will be able to comment on GZTC a little more often. As far as TA goes the chart doesn't look well for GZTC are any biotech stock for that matter. The stock has continued to make lower lows here and has broken several consecutive double-bottom patterns on the Point and Figure charts. Hopefully it can stabilize in here and we can get a better sense of what's going on. I didn't like the break at $10 but it's done and support for the short-term looks like it will establish itself at $9 or slightly above. Keep in mind this is all short-term as the fundementals for the company are still in place. We may continue to trend downward unless we get some really exciting news. Not much that can be done in here. The market continues to consilidate toward the blue-chips and money continues to move out of biotech or higher risk issues. Unless we get some stability in the overall market it will be difficult for the biotechs, especially small-caps to reverse into a bullish trend. The sector is extremely oversold and may continue to be so over the short-term. GS

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