On Wednesday, Biosensors broke the minor support at $1.165 and closed at $1.16 with LOW volume of 2.19 million shares traded.
RSI & MACD are bearish though RSI already in oversold region.
Important Resistance of Biosensors: $1.165
Immediate Support of Biosensors: $1.125
Currently prices are well below 20/50/100/200 days MA.
Since 7/Aug, prices have been trending downwards forming a lower low and lower high. This is a bearish signal.
The support at $1.125 is expected to be strong.
We do not suggest buying Biosensors now due to its short term bearish trend. Do wait for signs of consolidation even if interested.
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