MMCLUB

[Naztrader]

MG - PPHM. Looks good for more upside.......................

Hope this helps. I'll be happy to post TA on any listed stock you like. Just let the monkey know.

TECHNICAL OPINION - PEREGRINE PHARMACEUTICALS (PPHM) - 09/09/2003

Daily Opinion: BUY
Tuesday's very Bullish (up) move, forming a recent high, is accompanied by increasing volume (231% of average), suggesting a continuation to further new highs. This is generally a very bullish sign.

Short-Term Opinion: OUTPERFORM
On a short-term technical basis, the trend is Bullish (up) and the stock is above its 50-day moving average at 1.56 which also confirms its Bullish (up) trend. The stock is neutral according to the Stochastic indicator (60.79).

Long Term Opinion: OUTPERFORM
On a long-term technical basis, the stock (PPHM) is trading above its 200-day moving average which implies it is in a positive trend.

The stock has support at 1.89 and 1.60. If the stock breaks down through support at 1.89 then it will probably continue lower to 1.60. The stock will meet resistance at 2.03 and 2.19. If the stock breaks up through resistance at 2.03 then it will probably continue higher to 2.19. The 200-day moving average is at 0.98. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (71.22).


Regards,



Naz