Friday, November 2, 2012

Biosensors - Short term rebound?

In weekly chart, Biosensors price is stay above the major support with nice weekly hammer candlestick. We expect short term rebound reason short term because the trend is still downward. Unless the trend is turning upward then we will view it as trend changing but as of now the trend is still down and today rebound we may consider it as short term rebound. Based on the weekly chart the 1st resistant is at around $1.20.
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