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Biotech / Medical : Biogen -- Ignore unavailable to you. Want to Upgrade?

To: Harold Engstrom who wrote (684)	7/1/1998 1:45:00 PM
From: Hong-Lee Yu	Read Replies (1) \| Respond to of 1686

Harold, I don't. IMHO, any pipeline news to increase the visibility of year 2000-2001 and beyond is going to be very helpful - allows BGEN to trade at a premium above the growth rate. Genesis Merchant Group Securities initiated coverage of Biogen, Inc. (Nasdaq: BGEN - news) with a buy recommendation and a target price of $58 per share. biz.yahoo.com

To: Harold Engstrom who wrote (684)	7/8/1998 4:02:00 PM
From: Bwe	Read Replies (2) \| Respond to of 1686

Good afternoon, Harold and fellow Biogeneer's. I last posted Biogen's point & figure (p&f) technicals on June 21 and it's been onward and upward on BGEN's p&f chart. This will serve as the latest BGEN p&f update and for more background technical information, please refer to Post # 676. P&F charting concerns itself with the ongoing tug of war between supply and demand for stocks. Demand for BGEN, at this time, is clearly winning the battle. BGEN is currently on a buy signal on it's chart from June at $48. The stock has risen 9 straight boxes ($44-$52) on it's chart without having a reversal of at least $3. That would cause the stock to move into a column of O's which represents declining stock prices. The current price objective is $68. Currently only 30% of all Biotech stocks are on p&f buy signals and this is another indication that BGEN is a leader in it's group and also is a market leader. As I've previously pointed out, Biogen gave a relative strength buy signal in March at $48 and stocks with bullish RS will likely outperform the market for the next few years. Biogen is now at a level it was last at in February '97. The overhead supply of unhappy investors who bought at the $52 level a year and a half ago and are looking to get out even will likely exaust itself over the next few days or weeks. P&F chartists draw trend lines to get an idea of where major support exists and also, to get an idea of where a rally might run into some trouble. BGEN's major support (Bullish Support Line/BSL) is currently at $45. A secondary trend line, the Bullish Resistance Line (brl) is drawn fron the start of the base of stock prices from April-May '97 at $34. That resistance line is currently waiting at $66. Not so coincidentally, that's $2 below the price target of $68. On the downside, watch $47. That would put the stock in a negative pattern called a High Pole Top. If that were to occur, there's an 80% chance the stock would correct down to the low $40's. Looking good. Let's see how the stock reacts to the earnings announcement. An axiom of p&f chartists is "News on stocks is not important. How the stock reacts to it is important". I'm most interested in Harold's post earnings release analysis of BGEN's products and fundamental performance. Take care, Bruce