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

To: Galirayo who wrote (957)	6/6/2005 4:15:06 PM
From: Jibacoa	Read Replies (2) \| Respond to of 3722

Higher Highs and Higher Lows is an Up Trend.Since April 18th Ray: Up Trend ? I think it is presently on a DOWNTREND.<g> The L on May 25 of 6.40 was below the L of 6.48 on May 16 and the H of 6.98 on June 1st was below the H on 7.85 on May 20 Since the April 18th L of 5.71 the stock had an up-move to 7.08 on Apr.21 but broke the trailing stop loss at 6.60 From the L of 6.01 on Apr.28 it had another up-move to the H of 7.21 on May 12 and was able to hold at 6.48 to the H of 7.85 on May 20, but remember that 7.85 was the O on that day and the C was 7.75 and on the next trading day (May 23)the H was 7.76 and the stock closed at 6.86(down almost $1 from the previous day H)on a volume of 124,126 the highest since the 121,493 traded on Feb.17 which by the way,was also a down day(from 8.70 to 8.40) There seems to be pretty good resistance at the 6.90 and much more at the 7.80 level.The stock has been and is on a DOWNTREND at present. The PSML & PS at present: 6.35-- 6.50-- 6.67-- 6.85 and 7.38 (all on a DOWNTREND sequence.) Compare that to VPHM's: 5.74-- 5.12-- 4.34-- 3.32 and 4.33 (Remember the PS has to be only above or below P, it's position in relation the the averages is not significant.) As I mentioned to John, it is probably better to wait and buy some at 7.20 and add some more at 7.50 and 7.90 adjusting the trailing "mental stop loss"along the way.<g> bigcharts.marketwatch.com RAGL Bernard