Shares & Derivatives
Stock Chart: Biosensors, SembMar!
By Dou  •  November 7, 2011

On Friday, Biosensors trend sideways and closed at $1.40 with HIGH volume of 6.26 million shares traded.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body).  The engulfing bearish pattern is bearish during an uptrend; it then signifies that the momentum may be shifting from the bulls to the bears.

RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Biosensors: $1.44

Immediate Support of Biosensors: $1.38

Currently prices are well above 20/50/100/200 days MA.

On 27/Oct, prices broke the critical resistance at $1.38 with high volume and in turn created a new 3 year high record at $1.44.

However the rally seems to lose its strength as investors are taking profit on the recent gains.

The support at $1.38 is expected to be very strong.

Too late to buy ...

...
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By Dou
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