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2008-10-28 Open Finance experts recommend observation of Bioton shares on Tuesday.

Even though in October Bioton has already lost around 17 percent of its market value, this result puts Bioton among the strongest companies in the index WIG20. This is due to the fact that many companies has already lost more than half of their value.

Since July the Bioton’s share price stabilizes in the vicinity of 0.40 PLN tilting from that level only by 0.05-0.06 PLN. In short term the situation looks quite optimistic, providing that the bottom is not to worsen during the next few sessions. Even though a minimum rate of all time (0.35 USD) has been recently established, the graph’s shape analysis suggests that one may expect switch to the growth phase. If those assumptions are correct, the increase should go up to at least 0.80 PLN per share. The announcement of purchase, which appeared on Monday on a level of STS and a very high turnover at the beginning of October, indicates that the most nervous shareholders long overdue "are out of the market." In a long perspective it will be important to stabilize the rate above the average of last 20 and 50 periods.

M. Mackowski
Source: pb.pl