Market Wrap

Market Sentiment

Intraday Updates

Market Watch

Current Play List

Watch List

Trading Ideas

Email Version

Tech Stocks

New Plays

Play Updates

Closed Plays

Active Trader

New Plays

Play Updates

Closed Plays

High Risk/

New Plays

Play Updates

Closed Plays

Stock Splits

New Plays

Expected Splits

Play Updates

Closed Plays


Split Calendar

Split Candidates

New Candidates

Splits 101

Long-Term Plays

Tech Stocks

Non-Tech Stocks

Ask the Analyst

Bailey's Basics

Learning Center

Trader's Corner

Options Primer

Options 101

Splits 101

Trading 101




Live Charts

Dow 30 charts

Economic Calendar

Arms Index Charts

Terms of Service


Contact Us


Bearish Play Updates Sunday, July 06, 2003

Human Genome Sciences - HGSI - cls: 12.53 chg: -0.09 stop: 13.55

Another day of weakness was the score for our HGSI play, but not by much. With the Biotechnology index (BTK.X) sliding lower by just over 0.5%, the stock just didn't have enough direction from the sector to either advance or decline by very much. The 10-dma (now at $12.70) is continuing to provide closing resistance, and it appears something will have to give way soon. We're still expecting a breakdown below $12, which ought to have the stock seeking out its 200-dma ($10.23), but that doesn't mean there won't be some more volatility first. Strong resistance now exists in the $13.25-13.45 area, and this is reinforced by the 50-dma ($13.37), with the 20-dma ($13.61) picking up speed to the downside and likely to add further pressure next week. Failed rallies below the 50-dma still look favorable for new entries, although more conservative traders may want to wait for a decisive break below $12 before adding new positions. If entering on a breakdown, look for confirmation of weakness from the BTK index threatening its own 50-dma ($427). Maintain stops at $13.55.

Picked on June 18th at    $13.43
Change since picked        -0.90
Earnings Date           07/24/03 (unconfirmed)
Average Daily Volume =     3.07 mln

Link to Current Quote HGSI


Terms of Service Disclaimer Privacy Policy Contact Us
Copyright 2001 - Do not duplicate or redistribute in any form