On Wednesday, Biosensors re-test the support at $1.20 and closed at $1.20 with regular volume of 4.45 million shares traded.
RSI & MACD are bearish though RSI in oversold region.
Important Resistance of Biosensors: $1.255
Immediate Support of Biosensors: $1.20
Currently prices are resisted by the 100/200 days MA.
Since 29/Jan, prices have been trending downwards forming a lower low and lower high. This is a bearish signal.
The support at $1.20 is expected to be strong.
We do not suggest to buy biosensors now though prices now at critical support. However do monitor if the prices can hold at this support $1.20 as it could be a good entry.
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