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BREAKAWAY_GAP - BREAKAWAY GAP TGEN's Bullish Breakaway Gap...

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BREAKAWAY GAP TGEN's Bullish Breakaway Gap 08/11/00 02:31:33 PM PST by David Penn There are gaps and there are breakouts. But a breakaway gap can be something to be bullish about. Security: TGEN Position: N/A Targeted Genetics (TGEN) is a Seattle biotechnology company that specializes in vectors. Vectors are neutralized viruses that are used to deliver gene-based drugs into problem cells, and represent part of the growing array of biological tools used in genetic medicine. The company does not have any drugs approved for sale as of yet, and has been operating at a loss. Still, their recently announced plan to acquire biotech rival Genovo, whose technology is expected to enhance Targeted Genetics' vector delivering capacity, seems to have excited investors, who bid TGEN up out of a downward July trend. After enjoying advances during the month of June, TGEN spent July declining through a fairly well-defined trend channel, repeatedly bumping against both its lines of resistance and support. Recall that such contact tends to underscore the validity of the channel, helping
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