GZTC Message Board - Msg: 3158900

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Biotech / Medical : GZTC

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To: Harold Engstrom who wrote (495)	1/13/1998 5:36:00 PM
From: Giuseppe Scalamogna	Read Replies (1) of 752

Brief technical update on GZTC... Well from what I can tell and for what this may be worth, GZTC's technical pulse on Point and Figure charts is as follows. Bullish Points @ 12.5 GZTC breaks a a double top which could take up to the 13 - 13.375 range on a rally. If the rally continues to 13.5 GZTC breaks a spread triple top which could take up to 14 and beyond. Bearish Points There no longer is a bullish support line. That has converted into a bearish resistance line which I'll talk about next time. As far as downside goes, GZTC has to reach 8.00 to break a double bottom which could tank the stock although I doubt this kind of move is likely. Overall the action has been positive as of late and I expect GZTC to trade in the range 9.5 and 11.5 in the meantime. Hopefully we could see a rally in biotech which could help the stock break some of those double tops. The chart needs to develop a little more but preliminarily this is the indication. Right now we are in a nice strong column of x's which represents an up move so let's hope demand doesn't dry up for the stock and we can stabilize in here. GS

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