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Biotech / Medical : VICL (Vical Labs)
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To: Scott H. Davis who wrote (482)1/9/1998 12:40:00 PM
From: Jim Roof  Read Replies (1) of 1972
 
If this were any other stock I would say it would not be overbought but VICL trades like a cinder block. Sooner or later this range of 10-16 or so will be broken. My guess is that the fundamentals should propel it upward as long as it does not get too weak technically. At times I looked at the chart and thought we might have a double top but I am not so sure anymore.

I am not sure that a few days of trading create an overbought condition. I am not sure what indicators you are using but some are very bad at picking tops and all of them can misfire badly at times. RSI's, Bollinger Bands and stochastics have no way of comprehending either the fundamentals nor the ability to get the overview of years of trading activity spelled out on a good chart. I think VICL needs to be looked at on at least a 2 year basis to try to make sense of it.

Jim
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