Tuesday, 8 May 2012

Biosensors~ It has been falling like crazy but where can we look to pick it up?

Biosensors

Everyone wants to know where can we buy biosensors because anything goes up will come down and anything come down will up.
Biosensors has broken a long-term upward sloping trending support yesterday and it continues to fall today.

A strong support for biosensors will be around 1.215 levels according to past trends.
1.215 has been a horizontal resistance turned support for biosensors.

A small bear flag is seen in Biosensors and if we were to set the price target with reference to the fall of the formation of the bear flag we would likely to get a similar support point for Biosensors of 1.215.

The Fibonacci retracement support of 78.6% is also at 1.235.
The Fibonacci projections has a support level of 1.235 as well.

Therefore, Biosensors is really coming close to a very strong support level and interested parties might consider to long at this level between 1.215 to 1.235. If Bionsensors were to beak 1.16, maybe you would wan to watch your stop loss.
Disclaimer applies.

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