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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (735)	2/3/2005 11:30:47 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

Jon: Re: ELN It gave a "Buy Signal" today. But it has to confirm it with a close above $28.90 <g>(The JAN.19 intra-day H was 28.92 and the JAN.13 H 29.45 so there is some resistance ahead before it can test its NOV.15 H at 30.45) Today it was able to close above its FEB.1 intra-day double top at the 27.79 level,which as you may recall was also the intra-day H on FEB.2 The stock was able to hold the gains it made on the first hour of trading, the S average line crossed above the M and so the 3 are now on the right sequence.<g> (The PSML data on ELN today: P=27.90 S=27.39 M=27.18 & L=26.95 ) The SAR at 25.75 also moved below P while yesterday at 27.73 was above it <g>(Caveat:The SAR has moved above P on the weekly chart, however it has remained below it on the monthly chart since the last week of JUL.2003 <g>) Today was the 4th consecutive day that the stock was able to close above its opening price, apparently in anticipation of the revenues and loss report.<g> If the EL are correct ELN is expected to report a loss around $0.25/share for the 4thQ which should compare favorably with the $0.93/share in 2003 in spite of the decreasing revenues and the 50% increase in the reported loss for the 9 months.<g> The announcement of their Patent in Japan for its NanoCrystal Technology, which should be good for 7 yrs and that they claim is going to help them "develop and commercialise compounds that exhibit poor water-solubility",probably has also helped the stock price.<g> At any rate, if you went long on today's "buy signal",watch the stock now for the aforementioned resistance at the 28.92 and 29.45 levels to see if it will be able to close above its NOV.15 H at 30.45 bigcharts.marketwatch.com The first support is now at the 27 level and then the JAN.25 L at 25.31 <g> stockcharts.com[w,a]dacayiay[dd][pb50!h.02,.20!f][vc60][iut!Ua12,26,9!Uv25]&pref=G Bernard