ABGENIX INC
(ABGX-Nasdaq):
Technical Viewpoint: From a low
of $70.56 on Sep 12, 2000 prices
rallied, reaching a
high of $89.72
on Sep 25, 2000. A
decline saw prices pull back, reaching a
low of
$64.56 on Oct 4, 2000.
Another rally saw prices penetrate
resistance, closing 10/17/00
at $87 1/4. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 17, 2000 when the Histogram crossed the "0" line to the upside.
Support: Remains at $71.00. Resistance: Is at $89.72.
Point & Figure: Reversed to the upside on Oct 13, 2000. A P&F upside
reversal takes place at $80.00. Summary: Technical indicators have turned bullish. BUY! ABGENIX INC
(ABGX-Nasdaq) @ $87 7/8 Stop: Use a protective stop of $84 7/8.
ABGENIX INC is currently trading @ $87 1/4 plus $9.16 on Oct 17, 2000. Price Objective:
$102.00. Risk/Reward: $3.00 VS. $14 1/8. Today's Risk Reward Ratio: 5:1
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