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Biotech / Medical : Ligand (LGND) Breakout!
LGND 192.97-1.6%Jan 16 9:30 AM EST
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To: bob zagorin who wrote (15688)2/23/1998 12:35:00 PM
From: Allan Harris  Read Replies (2) of 32384
 
Bob, that depends on what you mean by "testing the lows." A break below about 11-12 would pretty much bust these very bullish patterns. On the other hand, a retracement to 13 or so wouldn't mean too much, but it may never come.

It's a risk:reward type of analysis, where you risk about 3 points looking to gain about 10, minimum.

Allan,
King of France
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