Stock Chart: Biosensors!

Stock Chart: Biosensors!

On Friday, Biosensors re-test the support at $1.20 and closed at $1.20 with HIGH volume of 11.34 million shares traded. During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 19 white candles and 24 black candles for a net of 5 black candles. RSI & MACD are bearish though RSI in oversold region. Important Resistance of Biosensors: $1.25 Immediate Support of Biosensors: $1.20 Currently prices are well below 20/50/100/200 days MA. Bears have been trying to short Biosensors below the critical support with high selling pressure on Friday but failed. The support at $1.20 is expected to be strong Do not suggest buying now due to the high selling pressure and bearish trend. Watch for consolidation instead before entry Stock Chart: Biosensors! … Read the full article → Related posts:Stock ...

Full article: http://thefinance.sg/2012/05/12/stock-chart-biosensors-5/