Biotech Values

[wallstarb]

ARIA chart = warning signs

ARIA chart popped out recently and yesteray came close to breaking under the lows from a few weeks ago. If ARIA breaks < $3.20 ARIA couldnt break new highs on the bounce from it's recent drop into the $2's and while it's was holding up fairly well - it seems to lack any momentum and interest in it seemed to have peaked a few weeks before ASCO. I wouldn't be worried BUT it has the buy the rumor/sell the news feel to me, where $$$ was thrown at it heavily expecting big things from ASCO and now that money has little short term catalyst to keep holding.

I am looking for a move/test of the low $2.00 area by late summer. $2.80 and $2.40 will be decent "bounce" areas on the way down but I doubt those levels will be much more then a few day and maybe 10% - 20% bounces as it sets lower lows and lower highs on each drop/bounce combo.