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Stock Chart: Biosensors!
By Dou  •  October 24, 2012

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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