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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: Roudy who wrote (404)3/1/1997 3:00:00 PM
From: Webhead   of 1762
 
I hope you're right about the bullish signal and ~30% gain (or, more to the point that a LOT of other folks think so too!). I've just started dabbling in TA to help make decisions on entry points (and hopefully on exit points but this is a lot more difficult) so let me spout off a couple of encouraging indicators.
Bollinger bands (placed 2 standard deviations above and below a moving average of the stock price) display the past channel that a stock's price has followed and allow a few predictions. Right now IDEC's price has broken through the upper channel and is roughly parralelling the rate of increase indicating (I think) a continuation of this trend of increasing prices. The moving average differential also supports the idea that this bull run hasn't played out yet. However, this is IDEC we're talking about and anyone who has followed the stock knows that it is subject to some pretty wild fluctuations.
As I pointed out earlier, Genentechs annual report suggested that IDEC was going to submit it's application to the FDA within the first quarter. Since we've only a month to go we may expect some good news in the near future (hopefully to keep this rally going). I'm keeping my fingers crossed and am trying to resist the impulse to take my modest profits in this bumpy market.

Ed
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