Biovail Corporation is a fully integrated pharmaceutical company specializing in the development of drugs utilizing advanced controlled-release, rapid dissolve, enhanced absorption and taste masking technologies. The Company generates its revenues from developing and licensing oral controlled-release products using its proprietary drug delivery technologies; manufacturing such products for sale to licensees and wholesalers; direct marketing of proprietary and in-licensed products in Canada, and providing pharmaceutical contract research services to Intelligent Polymers Limited and other third parties.

February 12, 2001

Biovail Corporation develops and manufactures drugs utilizing advanced oral controlled-release, rapid dissolve, enhanced absorption and taste masking technologies. The Company currently has developed 15 products that are sold under license in over 55 countries. BVF ran into some profit taking in November after hitting an all-time high of $45.38 on November 8th. The stock then put in a triple-bottom over the course of two months. Now the stock has regained its momentum and on Monday, the stock broke out to an all-time high of $46.15 on volume of 956,000 shares. This was the move we were looking for so we are adding them to our current plays list. Going forward, support is the 10-dma at $43.76 with additional support at $42.90, Monday’s intra-day low. Resistance could show up in the $47-$48 range with heavier resistance at $50. Traders may consider staring new plays on a bounce off of $43.76 or a break out above $47 on volume greater than 800,000 shares by noon. We plan to set stops at $41.50 as downside protection.

Picked on February 12th @ $46.15
Change since picked +0.00
Stop Loss @ $41.50

February 22, 2001

Controlled-release drug developer Biovail Corporation gave back all of this week’s gains on Thursday. BVF traded through its 5, 10, and 20-dmas, hitting an intra-day low of $43.15. However, the stock managed to close above the 20-dma at $43.55 on heavy volume of 1.16 million shares. Hopefully, BVF will make a recovery on Friday as the stock is at the lower end of its recent trading range. Going forward, BVF has support at Thursday’s intra-day low of $43.15 with additional support at the February 14th intra-day low of $42. Resistance has fallen to Thursday’s intra-day high of $44.65 and then $45.68, Tuesday’s intra-day high. A bounce off of $43.15 or a move above $44.65 on midday volume of at least 400,000 shares may be possible entry points. We are keeping our stops at $41.50 as downside protection.

Picked on February 12th @ $46.15
Change since picked –2.60
Stop Loss @ $41.50

February 20, 2001

Biovail Corporation, a designer of controlled-release drug delivery, showed signs of life on Tuesday. The stock hit an intra-day high of $45.68 before closing at $44.96 on volume of 470,000 shares. BVF broke its short-term downward trend on Tuesday but the move came on light volume, so the stock may consolidate before it hits new highs. This kind of action has been typical of BVF over the past month. In the meantime, support has moved up to Tuesday’s intra-day low of $44 with stronger support at Friday’s intra-day low of $43.15. Resistance is now at Tuesday’s intra-day high of $45.68 and then the February 12th intra-day high of $46.15. Traders may consider entry points on a bounce off of $43.15 or a move above $45.68 on volume greater than 350,000 shares by noon. We are keeping our stops at $41.50 to prevent additional losses.

Picked on February 12th @ $46.15
Change since picked –1.19
Stop Loss @ $41.50

February 18, 2001

Controlled-release drug developer Biovail Corporation traded in a tight range on Friday. Shares of BVF hit an intra-day low of $43.15 early in the session. However, the stock managed to recover all of its losses to close at $43.90 on light volume of 354,000 shares. The light volume and the intra-day bounce is evidence that BVF is attempting to put in a bottom. Hopefully, the volume will return and drive the sock higher. For now, support is the 20-dma at $42.68 with additional support at Wednesday’s intra-day low of $42. Resistance has fallen to the 5-dma at $44.74 and then Wednesday’s intra-day high of $45.30. A bounce off of $42.68 or a move above $44.74 on midday volume of at least 450,000 may be possible entry points. We are keeping our stops at $41.50 as downside protection.

Picked on February 12th @ $46.15
Change since picked –2.25
Stop Loss @ $41.50