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Biotech / Medical : SAFESKIN
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To: Jeff Bond who wrote (441)11/13/1998 11:32:00 AM
From: David Rubin  Read Replies (2) of 828
 
Looks like you may get your $20 ... but there's a good chance it will go lower from there, not higher.

SFSK is dangerously close to 21 1/2 -- the closing price on the day after earnings and the intraday low since then. If it drifts below that, there is no support in sight. The chart is also making another head-and-shoulders with the neckline now at about 18. Add to that the fact that the overall market is getting shaky and the Fed may not ease next week, and I think SFSK may be headed for trouble.

I bought some recently, expecting this to be a good long-term entry point. But now it is starting to look like we have more downside to go...
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