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

To: Tomato who wrote (1373)	8/19/2005 6:09:44 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

Wayne, Re: MYGN Entry point. I think that has to be decided "on the march".<g> The stock performed well today but it still isn't off the near term downtrend coming from its July 21 H at 18.50 Today's volume of 182,208 was larger than yesterday's 137,895 but still not worth of writing home about it. Looking at volumes on the daily, weekly & monthly chart, the highest daily was 2,705,153 on May 2 which was a downday from 16.56 to 16.15 and more recently on July 20 the 451,1031 was on an upday.<g> On the weekly,the highest was 7,255,758 (wk ending May 6) which was an upweek 16.56 to 17.63 & the 2,745,528 on WE June 24 was also an upweek from 15.38 to 15.77 On the monthly, the highest of 17,187,340 on ME 1/31/2005 was an upmonth fro 22.56 to 24.75 but the 14,873,381 on ME 4/29/2005 was on a downmonth from 18.55 to 16.16 The stock needs to close above 17.70 in order to start testing its resistance at 18.02 and 18.50 (More important is the resistance at 19 which was the H on May 13) The nearest support is at 16.50 and then at 15.85 (the H of July 1st) If Cramer's comments could bring the stock down to test its important support at the 15.05 level and it starts to rebound from there, that would be a good "entry point". If the stock can close above 18.05 with expanding volume that would be a good sign that would make me buy some with a stop loss at 17.80 and the same if it can close above 18.50 with a stop at 18.20 I think at present is probably better to wait for the 4th Q results. The loss so far is $0.98/shr and it is expected that it will be around $0.30 in the June Q, which still should show a favorable comparison with the loss of $0.37/shr last year. For 2006 the loss is still estimated around $1.25/shr. The revenues have shown improvements of 22% 39% and 45% in the first 3 Qs and should also show a good comparison with the June Q last year of 15.1M bigcharts.marketwatch.com With some good news the stock could get back to the high 20s once it can close above the previously mentioned resistance. I think the analyst consensus "target" for the next 12 months is somewhere around 24 <g> bigcharts.marketwatch.com RAGL Bernard