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 ...
...