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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Evan Dimmer who wrote (3653)	12/14/1997 9:09:00 PM
From: LoLoLoLita	Respond to of 23519

>>Support at 11.5?.....resistance at 14? Well, we saw support in the last few days at 12.5, 12 and 11.5. This is a support ZONE for the stock. Any call for resistance at 14 would be based on 14 being a PREVIOUS support level (before it broke through to below 14). It's not there. That is, 14 was not a previous support level where the price fell at least once and then bounced up. The last time VVUS was between 14 and 19 was back in May (ages ago for VVUS). We did see some selling at 14 the other day, but, in the classical TA sense of Magee and Edwards, that would not be called "resistance." I don't know of any TA indicators that would give an upper bound to the short-term upside except for Bollinger Bands, which I can't look at while here. Anyway, I'm not sure how reliable they would be. When there is a big gap like 14-19, that's an area where people have little "vested interest" (like trying to get out even). As a result, when a stock moves up (or down) through a gap, we will often see the reverse move through that same area go relatively quickly. If you look at the 12-month chart of daily closing prices, you can see this happening in the moves up-JAN/down-MAR, up-FEB/down-FEB, and up-SEP/down-OCT. Cheers, David