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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (4991)	7/21/1998 5:35:00 PM
From: epicure	Read Replies (1) \| Respond to of 7041

There is a large head and shoulders in the chart- started around the end of 97- it is completed and would be bearish. Any run over 26 will invalidate this. There is also a completed inverted head and shoulders- started in June (the big drop is the arm up to the shoulder) and it is now complete also. That is bullish (drop below 22 invalidates). I also think ZONA may be making a symmetrical triangle which would be resolved in favor of the trend (UP). THis is also bullish. The triangle begins in 97 and we are about 3 and 1/6th coils into it. The finish to the coil we are on now should be about 32 and then down to a low of about 26- then I would expect perhaps a little flat point and a break to the upside. Any drop below 19 invalidates this formation. If Zona goes above 26 it will probably go to 32, but then (if there is a triangle forming) it will come back down to 26. CANDLES 2 black candles so far- if we get a third that will be three black crows and that is bearish. I see no other formations- except for that big bearish belthold line last Weds- which called the present decline. From the 5 and 15 minute stochastic I would expect the open tomorrow to be down. And I think because the daily is also turning down, you may close the day down. Remember drops below 22- one sigh of relief, drops below 19 a GREAT BIG sigh of relief(if you happen to be short). I have no position, and this is just My Opinion. It is worth what you paid for it.