Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 184.09

-0.9%

Dec 10 3:59 PM EST

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To: Lyn Benson who wrote (25500)	9/18/1998 12:10:00 PM
From: Webhead	Read Replies (2) of 32384

Lyn, There isn't enough information yet on this up(hopefully)trend to set any price objectives. The "long tail down" pattern tries to take advantage of unfair overselling. Clearly, LGND share price isn't/hasn't been healthy and this should be viewed as a short term opportunity until a longer term is confirmed by a conventional P&F buy signal (which will then allow a price objective). Now with both the NYSE bullish percent and biomed/genetics sector reversing up into bull alert, the recent reversal in the long tail down pattern takes on a lot of significance. Barring some hideous international meltdown or impeachment, I think LGND bottomed out in the 5s and is building up steam for a rebound. Time will tell but LGNDW action has been very positive and LGND has held up extremely well in the face of some pretty big downdrafts. All IMHO Ed

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