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Biotech / Medical : IMNR - Immune Response

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To: billkirn who wrote (589)6/28/1998 11:49:00 PM
From: Manny Gugliuzza  Read Replies (1) of 1510
 
billkirn, when you expect that 14 will be seen again , what is your time frame on that?

when IMNR broke out of the last trading range of single digits, trades were higher for 5 weeks in a row. although that was then and this is now. good fundamentals have been consistent but now they are strong and will control biotech thinking in this field.

technicals are following with the 1st week thu the resistant area of 15 i expect this to become support. how soon the test will be i am not sure.

i was a little worried at the opening on Fri. below the thurs. close. this gap could be a reversal but it did trade up to the close.

short term stochastics 15-5-5-1 and the slower 13-7-7-1 have not confirmed a sell signal. the quicker 10K and 4D have, however the divergence is huge almost like it has bottomed. MACD still increasing even on Fri. trading. i had only 3-400,000 shares on the sell side friday, same 1/3 as thurs %

the next few days will mark either a similar pattern like the rise on june 12th testing this gap area as i had expected(AGPH's purchase price) or complete the uptrend channel at 15.5-15.75 tomorrow,then 16.5 the next and up. that is on a daily 1$ scale chart. the weekly charts are better to look at and help to smooth out the rough edges.
that has the uptrend very steep and us stepping out at 17 and rising 3.5 points next week.

good luck to all.

ar.
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