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Biotech / Medical : Oncothyreon

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To: Michael Brody who wrote (714)	5/14/1999 9:12:00 AM
From: StockMiser	Read Replies (1) of 2344

I'm not a tech wiz, but as I understand it, the chart is very very bullish. We've seen a nice support base at around 5, which has risen steadily for the last 3 days till it's now about 5 3/8. While 5 1/2 continues to be resistance, we're very close to taking it out. Notice how we're sticking so close to the ceiling for the last 2 days. With the conference starting tomorrow, today would be the day to breakthru resistance and head towards the next level (which one tech guys tells me is around 6 1/2). We now have a large number of shareholders holding shares in the 5 - 5 1/2 range - this creates some level of support at these levels, but also resistance at higher levels as they become sellers. IMHO....all of this TA stuff means nada in the face of massive buying like we'll see if we get major media exposure this weekend and next week. On a sidenote...I was watching PBS last night and they had a feature on breast cancer. They were talking about the ASCO meeting, and how stem cell replacement (bone marrow) with chemo hasn't been very effective. They then said that there are "novel" therapies also being researched, and will be presented at the ASCO conference. I wonder what therapies they are referring to....<g> SM SM

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