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

To: t36 who wrote (3923)	12/19/1997 10:22:00 PM
From: LoLoLoLita	Read Replies (1) \| Respond to of 23519

I'm just a novice at TA, but a lot of the classic guidance is that in order to call bottom you need to have a recovery that extends at least "three days away" from the low. Look at the daily chart and you'll see that the Lows for Thursday and Friday were at about the same level as the Highs of the bleak action Tuesday and Wednesday, 11 5/8 or so. So, to have the third day away, we would need to have the Low on Monday at 11 5/8 (or higher) to call this week's new 52-week low a solid bottom. VVUS showed astounding strength in gaining while the DJIA was down 270 points in early trading. But the total VVUS shares traded today was not very large, only a million, so that would make a TA discount today's action somewhat. What we need is a breakout over 14 on good volume. Then everyone looking at the chart will see a rocket in the making and lots of the SOES day traders will jump on for the ride. When they come on, we'll probably start seeing stronger end-of-day selloffs from the "covering for the night," which may represent good entry points for the ride up to the last support, which was in the 19-21 range. IMHO, David