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Replies to #87636 on Biotech Values
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rkrw

12/16/09 4:26 PM

#87641 RE: poorgradstudent #87636

People were making the same complaints about ariad when it was trading for 75 cents early this year.
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wallstarb

12/16/09 4:33 PM

#87643 RE: poorgradstudent #87636

ARIA touched support today 2.18

technically its not yet over sold or at a BUY signal - but you might expect a bounce off these levels - unlikely the bounce gets much traction but a move maybe intraday to 2.38 - 2.42 wouldnt suprise me.

Next major support levels for ARIA are $1.86 +/- which is a rising 200 dma and generally any tests of a RISING 200 dma (day moving average) are VERY VERY VERY solid entry levels. ARIA has never failed its 200 dma since it broke out around MAY - it tested that level in JULY (the 200 dma was in a DOWNTREND then which isnt as good support) the other test was 10/28 - 11/3 period in the 1.76 area. (the 200 dma had turned UP by that time)

so my 2 cents is that UNLESS there's a major data point expected - see what it does and use that 200 dma as a good entry if it gets there... we could see tax sellers into year end - but then again you may see Jan effect buyers.