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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Andrew H who wrote (9935)	10/22/1997 3:58:00 AM
From: HerbertOtto	Read Replies (1) \| Respond to of 32384

>> tea leaves << Cosolidating within intermediate uptrend. Last Friday's low-volume break-down below the 20-day MA looks like was related to options expiration. Monday 10-20-97 got a test of the 50-day MA line at 15 1/2. Was met with good volume buying, to close up on the day, at 16 1/2 - notably below the 17 level = 20-day MA. Today, 10-21, up to 16 15/16, vol 621K, closed right at the 20-day MA. New all-time high on OBV. Ordinarily, would want a second test of the low at 15 1/2 - ideally a test of 15 down to 14 3/4. But with the step-up in volume, there is much more energy in the stock now. Of course it is due to the flurry of news around LGND. If the increased volume persists, could support a sharp move up. If LGND hits 15, hock your other watch, and buy more stock. You won't have long. The 20% upper band on the 50-day MA is now at 19 1/2. Allows for an 'orderly' move to 19 3/4 by 10-23. Good luck! Herbert