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
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